SB 0489 - Fiscal Note

Fiscal Note - SB 0489 - Allows certain property to be assessed as residential and allows the assessor to appeal local

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO.: 1704-02

BILL NO.: SB 489

SUBJECT: Taxation and Revenue - Property

TYPE: Original

DATE: March 5, 1999

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FISCAL SUMMARY

ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED	FY 2000	FY 2001	FY 2002
Total Estimated Net Effect on All State Funds	$0	$0	$0

ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED	FY 2000	FY 2001	FY 2002
Total Estimated Net Effect on All Federal Funds	$0	$0	$0

ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED	FY 2000	FY 2001	FY 2002
Local Government	$0	$0	$0

Numbers within parentheses: ( ) indicate costs or losses

This fiscal note contains 2 pages.

FISCAL ANALYSIS

ASSUMPTION

Officials of the State Tax Commission (TAX) noted that preponderance of evidence is the standard used by the Commission and that floating docks are classified as personal property. They and the Morgan County Assessor stated that the proposal would not affect those offices.

FISCAL IMPACT - State Government	FY 2000	FY 2001	FY 2002
	(10 Mo.)
	0	0	0
FISCAL IMPACT - Local Government	FY 2000	FY 2001	FY 2002
	(10 Mo.)
	0	0	0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.

DESCRIPTION

This proposal would: 1) classify separately owned portions of floating boat docks as residential property, 2) allow city and county assessors to appeal decisions of boards of equalization when the appeal involves an issue of law, and 3) require decisions of the State Tax Commission to be supported by a preponderance of evidence.

This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenues.

SOURCES OF INFORMATION

State Tax Commission

Morgan County Assessor

Jeanne Jarrett, CPA

Director

March 5, 1999