| SB 0579 | Sales Ratios Relaxed To 10% From 5% |
| Sponsor: | MAXWELL | ||
| LR Number: | S2190.01I | Fiscal Note: | 2190-01 |
| Committee: | Ways and Means | ||
| Last Action: | 01/23/96 - Hearing Cancelled S Ways & Means Committee | ||
| Title: | |||
| Effective Date: | August 28, 1996 | ||
SB 579 - After January 1, 1997, all school districts with property tax assessment ratios higher than 30% (currently 31 2/3%) shall have their ratios certified by the State Tax Commission at 33 1/3%. If, after the State Tax Commission ensures the accuracy of the county's equivalent sales ratio, the Commission finds the sales ratio to be less than or equal to 30% (currently 31 2/3%) the Commission shall reduce the county's reimbursement by 15% the following year.
This act is similar to SB 516, and SB 361 (1995).
TOM CRAWFORD