SB 0579 Sales Ratios Relaxed To 10% From 5%
LR Number:S2190.01I Fiscal Note:2190-01
Committee:Ways and Means
Last Action:01/23/96 - Hearing Cancelled S Ways & Means Committee
Effective Date:August 28, 1996
Full Bill Text | All Actions | Senate Home Page | List of 1996 Senate Bills
Current Bill Summary

SB 579 - After January 1, 1997, all school districts with property tax assessment ratios higher than 30% (currently 31 2/3%) shall have their ratios certified by the State Tax Commission at 33 1/3%. If, after the State Tax Commission ensures the accuracy of the county's equivalent sales ratio, the Commission finds the sales ratio to be less than or equal to 30% (currently 31 2/3%) the Commission shall reduce the county's reimbursement by 15% the following year.

This act is similar to SB 516, and SB 361 (1995).