SJR 44 – Limits increases in assessed value of residential real property caused by reassessment to the rate of inflation until a transfer of ownership occurs

• Sponsor: Loudon
• LR Number: 4408S.02I
• Committee: Ways & Means
• Last Action: 1/24/2008 - Second Read and Referred S Ways & Means Committee
• Journal Page: S133
• Effective Date: Upon voter approval

Current Bill Summary

SJR 44 - This constitutional amendment, if approved by voters, would limit increases in assessed value due to reassessment of residential real property to a maximum of the inflationary rate over a prior year assessment until a transfer of ownership occurs. Upon a transfer of ownership, such property would be reassessed at its value for the year in which the transfer occurs.

JASON ZAMKUS