SB19-255
Gallagher Amendment Residential Assessment Rate
Concerning the establishment of the ratio of valuation for assessment for residential real property.
Session:
2019 Regular Session
Subjects:
Bill Summary
Fiscal Policy & Taxes
Local Government
Property tax - residential assessment rate. Based on a residential target percentage that is equal to 45.69%, the act lowers the residential assessment rate from 7.2% to 7.15% for property tax years commencing on and after January 1, 2019, until the next property tax year that the general assembly adjusts the rate.
(Note: This summary applies to this bill as enacted.)