John A. Cosgrove, Jr.
- Republican
Real property taxes; rate of increase. Requires the 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.
Senate committee, floor amendments and substitutes offered
Passed by indefinitely in Finance and Appropriations (12-Y 4-N)
Impact statement from TAX (SB620)
Presented and ordered printed 22104159D
Referred to Committee on Finance and Appropriations
Bill Text Versions | Format |
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Presented and ordered printed 22104159D | PDF HTML |
Document | Format |
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Fiscal Impact Statement: SB620F161.PDF |
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