HB 1688 - DIGEST

     Declares an intent to:  (1) Affirm the concept of valuing and assessing property at one hundred percent of its true and fair value for the purposes of determining property tax liability;

     (2) strengthen the statutory limitation on property tax rates;

     (3) provide for clarification of billing schedules;

     (4) reduce the burden of proof placed upon property taxpayers when challenging property tax valuations;

     (5) provide for clear communication of the cost of voter-approved property taxes through more detailed information on ballot propositions and on notifications pertaining to property tax assessments; and

     (6) provide for annual revaluation cycles to lessen the impact of property value increases on property tax bills and to promote increased equity among all property taxpayers.