SB 353 IN
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Summary
Provides a calculation to be used in determining the maximum permissible ad valorem property tax levy and resulting tax rate for taxes first due and payable in 2026 and 2027, to cap the increase in the levy and tax rates based on a ratio comparison of each civil taxing unit's maximum permissible ad valorem property tax levy to net assessed value in 2025.
Sponsors (3)
- Mike Gaskill Republican · author
- Brian Buchanan Republican · author
- Scott Baldwin Republican · author
1 coauthor / cosponsor
- Linda Rogers Republican · coauthor
Action history (5)
- Jan 14, 2025 First reading: referred to Committee on Tax and Fiscal Policy · upper
- Jan 14, 2025 Authored by Senator Gaskill · upper
- Jan 30, 2025 Senator Baldwin added as third author · upper
- Jan 30, 2025 Senator Rogers added as coauthor · upper
- Jan 30, 2025 Senator Buchanan added as second author · upper
Subjects
AGENCIES; Department of Local Government Finance (DLGF)AGENCIES; Department of Revenue (DOR)TAXES; Property TaxesTAXES; Tax Levies
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