SENATE BILL REPORT

SB 5091

BYSenator Rasmussen

Allowing prepayment of state portion of property taxes.

Senate Committee on Ways & Means

Senate Hearing Date(s):February 27, 1989; March 1, 1989

Majority Report:  Do pass.

      Signed by Senators McDonald, Chairman; Craswell, Vice Chairman; Amondson, Bailey, Bluechel, Cantu, Hayner, Johnson, Lee, Newhouse, Niemi, Owen, Saling, Smith, Williams.

Senate Staff:William Bafus (786-7437)

                  March 14, 1989

AS PASSED SENATE, MARCH 13, 1989

BACKGROUND:

Current law provides for prepayment of county property taxes, subject to county legislative body authorization, if the taxpayer wishes to do so.  Prepayment is required when a plat is filed after May 31 of any year but prior to the next due date for property taxes.  This latter prepayment is to be at 125 percent of the current year's levy on the affected property.  Current law also provides for adjustments due to overpayments or underpayments in such cases.  No such options, requirements or adjustment mechanisms exist for the state portion of property tax levies.

SUMMARY:

The provision for optional prepayment of property taxes is extended to the state portion of property taxes.

Appropriation:    none

Revenue:    none

Fiscal Note:      available

Senate Committee - Testified: No one