Dominick Moreno voted Yea (Concurrence Vote) on this Legislation.
Title: Reduces Property Taxes And Authorizes a Voter-Approved Revenue Change
Vote to concur with house amendments and pass a bill that reduces state property taxes and authorizes a voter approved revenue change.
Requires the secretary of state refer a ballot issue to voters at the November 2023 election that asks whether property taxes should be reduced (Sec. 3).
Establishes limits on local governments property tax revenue (Sec. 6).
Reduces the assessment rate for lodging property and all nonresidential property, excluding agricultural and renewable energy production property from 29% to (Sec. 8):
27.85% for the 2024 through 2026 property tax years;
27.65% for the 2027 and 2028 property tax years;
26.9% for the 2029 and 2030 property tax years;
25.9% or 26.9% for 2031 and 2032 property tax years depending on increase in valuation in the 32 counties with the smallest increases;
26.4%.
Reduces the assessment rate for agricultural property, excluding renewable energy land, and renewable energy property from 29% to (Sec. 8):
26.4% for the 2025 through 2030 property tax years; and
25.9 % or 26.4% for 2031 and 2032 property tax years depending on the increases in valuation in the 32 counties with the smallest valuation.
Reduces the assessment rate for renewable energy agricultural land from 29% to 21.9% for the 2024 through 2032 property tas years (Sec. 9).
Title: Reduces Property Taxes And Authorizes a Voter-Approved Revenue Change
Vote to amend and pass a bill that reduces state property taxes and authorizes a voter approved revenue change.
Requires the secretary of state refer a ballot issue to voters at the November 2023 election that asks whether property taxes should be reduced (Sec. 3).
Establishes limits on local governments property tax revenue (Sec. 6).
Reduces the assessment rate for lodging property and all nonresidential property, excluding agricultural and renewable energy production property from 29% to (Sec. 8):
27.85% for the 2024 through 2026 property tax years;
27.65% for the 2027 and 2028 property tax years;
26.9% for the 2029 and 2030 property tax years;
25.9% or 26.9% for 2031 and 2032 property tax years depending on increase in valuation in the 32 counties with the smallest increases;
26.4%.
Reduces the assessment rate for agricultural property, excluding renewable energy land, and renewable energy property from 29% to (Sec. 8):
26.4% for the 2025 through 2030 property tax years; and
25.9 % or 26.4% for 2031 and 2032 property tax years depending on the increases in valuation in the 32 counties with the smallest valuation.
Reduces the assessment rate for renewable energy agricultural land from 29% to 21.9% for the 2024 through 2032 property tas years (Sec. 9).
Title: Reduces Property Taxes And Authorizes a Voter-Approved Revenue Change
Title: Reduces Property Taxes And Authorizes a Voter-Approved Revenue Change