HB 1010

Abstract

Real property taxes; notice of proposed increase. Adjusts the notice requirements for public hearings held to increase property taxes in localities that conduct their reassessment of real estate more than once every four years. The bill requires such localities to provide notice of any such hearing on a different day and in a different notice from any notice published for the annual budget hearing. Under current law, such hearings are required when a locality seeks to raise its property tax rate above a rate that would collect more than 101 percent of the amount of taxes collected for the previous year.

Real property taxes; rate of increase. Requiresthe governing body of a locality to hold a referendum before makingmost increases in their real property tax rate. Under current law,the governing body of a locality is required to limit their realproperty tax rate to a rate that would collect no more than 101 percentof the amount of real property taxes collected for the previous year.Increases above this rate may only be imposed if the locality holdsa public meeting. The bill replaces the public meeting requirementwith a requirement that any such increase be approved in a referendum.