HB 1202-S - DIGEST

(DIGEST AS ENACTED)

     Makes revisions relating to improving property tax administration by providing for consistency in taxpayer appeals to county boards of equalization; requiring the use of personal property valuation data over a three-year period to avoid abrupt changes in the state equalization ratio applied to the assessed value of property in a county; and providing a process for correcting levy errors.

     Provides that Section 14 of this act takes effect for taxes levied in 2001 for collection in 2002 and thereafter if the proposed amendment to Article VII, section 1 of the state Constitution providing for valuation increases to be phased-in over a period of four years is validly submitted to and is approved and ratified by voters at the next general election.  If the proposed amendment is not approved and ratified, section 15 of this act is null and void.  If such proposed amendment is approved and ratified, section 12 of this act is null and void.