SB23B-006
Real Property Valuation Cap
Concerning a limit on the percentage by which the actual value of most classes of real property may increase for the 2023 property tax year.
Session:
2023 Extraordinary Session
Subject:
Bill Summary
Fiscal Policy & Taxes
The bill ensures that the actual value of property used for purposes of valuation for assessment does not increase by more than 6% between 2022 and 2023 for property that does not have an unusual condition that results in an increase in actual value.
(Note: This summary applies to this bill as introduced.)