SB 5821 - DIGEST

 

     Declares that, no increase in property tax revenue, other than that resulting from the addition of new construction and improvements to property and any increase in the value of state-assessed property, may be authorized by a taxing district, other than the state, except by adoption by the legislative authority of the taxing district of a separate ordinance or resolution, pursuant to notice, specifically authorizing the increase in terms of both dollars and percentage.  The ordinance or resolution may cover a period of up to two years, but the ordinance shall specifically state for each year the dollar increase and percentage change in the levy from the previous year.