HB 423

Abstract

Amends the Truth in Taxation Law in the Property Tax Code. Makes changes concerning the notice required to be published for a public hearing to approve a proposed property tax increase. Provides that for corporate and special purpose property taxes the notice shall set forth the proposed estimated (now, only proposed) corporate and special purpose property taxes to be levied for the current year and provides that the dollar amount supplied in the notice is estimated and the percentage increase or decrease over the previous year is an estimated percentage. In those parts of the notice concerning estimated property taxes to be levied for debt service and public building commission leases and estimated total property taxes to be levied for the current year, provides that the dollar amount stated in the notice is estimated and that the percentage increase or decrease over the previous year is an estimated percentage. Effective immediately.