|
HCS/HB 1806 - This act increases the assessed valuation a county must maintain in order to move into a higher classification with exceptions for certain counties of the second classification. The assessed valuation for counties of the first classification is increased from $600 million to $900 million. The assessed valuation for counties of the second classification is increased from $450 million to $600 million. All counties with an assessed valuation of less than $600 million will be counties of the third classification. However, counties of the second classification, which on August 28, 2010 have had an assessed valuation of at least $600 million for at least one year may, by resolution, instead choose to be a county of the first classification. Also, any county of the second classification which, on August 28, 2010, has had an assessed valuation of at least $600 million for at least five years may, by resolution of the governing body of the county adopted prior to December 31, 2010, elect to remain a county of the second classification until the assessed valuation of the county after 2009 is such as to place it in another classification and it has maintained at the necessary valuation for the required period of time. The required assessed valuation for each classification shall be increased annually by an amount equal to any percentage change in the annual average of the consumer price index for all urban consumers or zero, whichever is greater. The state tax commission shall calculate and publish this amount so that it is available to all counties. This act contains an emergency clause. This act is similar to SS/SCS/SB 605 (2010). SUSAN HENDERSON MOORE
|
