HB 2855 - DIGEST

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

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

     (3) provide for clarification of billing schedules;

     (4) provide more detailed information on ballot propositions and notices of property tax assessments;

     (5) provide for annual revaluation cycles; and

     (6) create a property tax deferral program when increases in property tax bills cause undue financial hardship.