HB 5179

Abstract

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, beginning in levy year 2011, for the purpose of determining the extension limitation, the percentage increase in the Consumer Price Index for the 12-month calendar year preceding the levy year may not (i) exceed the percentage increase in the Consumer Price Index for the 12-month calendar year immediately preceding the 12-month calendar year preceding the levy year by more than 37.5% or (ii) be more than 37.5% less than the percentage increase in the Consumer Price Index for the 12-month calendar year immediately preceding the 12-month calendar year preceding the levy year.