This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0535 - Modifies power of the State Tax Commission regarding county reassessment
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 2035-02
BILL NO. HCS for SB 535
SUBJECT: State Tax Commission: Equivalent Sales Ratio Studies
TYPE: Original
DATE: April 8, 1998
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials of the State Tax Commission and the Department of Elementary and Secondary Education stated the proposal would not affect their agencies. Tax Commission officials also noted that provisions concerning reassessment plans comply with a recent Supreme Court decision.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| FISCAL IMPACT - Local Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| FISCAL IMPACT - Small Business | |||
No direct fiscal effect on small businesses would be expected due to this proposal.
DESCRIPTION
This proposal would: 1) clarify that when the Tax Commission does a second equivalent sales ratio study in a county [under terms of 163.011(9)], the second sample of parcels for the study would include the sample of parcels included in the first study, and 2) establish procedures to be followed when tax commission, assessor and county commission do not agree on a reassessment plan.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenue.
SOURCES OF INFORMATION
Department of Elementary and Secondary Education
State Courts Administrator
State Tax Commission
Jeanne Jarrett, CPA
Director
April 8, 1998