Vote Smart's Synopsis:

Vote to pass a bill that changes the method that taxing districts use to include new construction when calculating property taxes.

Highlights:

- Requires the state taxing commission to calculate the property tax rate for each taxing district without the inclusion of new construction and land classification changes. If this results in a lower levy rate than the previous year, then the difference between the two is subtracted from the district's subsequent annual budget prior to calculating the property tax rate [sec. 1 (5)].

Full Bill Text