Text: HSB00517 Text: HSB00519 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 441.21, Code Supplement 1995, is
1 2 amended by adding the following new subsection:
1 3 NEW SUBSECTION. 5A. a. For valuations established as of
1 4 January 1, 1995, if the percentage of actual value at which
1 5 residential property is to be assessed as computed under
1 6 subsection 5 is less than sixty-seven and one-half percent,
1 7 the percentage of actual value at which residential property
1 8 shall be assessed shall be sixty-seven and one-half percent
1 9 notwithstanding the computation under subsection 5.
1 10 b. For valuations established as of January 1, 1996, if
1 11 the percentage of actual value at which residential property
1 12 is to be assessed as computed under subsection 5 is less than
1 13 sixty-seven and one-half percent, the percentage of actual
1 14 value at which residential property shall be assessed shall be
1 15 sixty-seven and one-half percent notwithstanding the
1 16 computation under subsection 5. For purposes of this
1 17 paragraph and subsection 5, in computing the percentage of
1 18 actual value at which residential property is to be assessed
1 19 for valuations established as of January 1, 1996, the
1 20 provisions of paragraph "a" shall not be considered.
1 21 c. For purposes of computing under subsection 5 the
1 22 percentage of actual value at which residential property is to
1 23 be assessed for valuations established as of January 1, 1997,
1 24 and for subsequent years, the provisions of paragraphs "a" and
1 25 "b" shall not be considered in such computation.
1 26 Sec. 2. This Act, being deemed of immediate importance,
1 27 takes effect upon enactment and applies retroactively to
1 28 assessment years beginning on or after January 1, 1995, for
1 29 establishing valuations of residential property subject to
1 30 property taxes payable in fiscal years beginning on or after
1 31 July 1, 1996.
1 32 EXPLANATION
1 33 The bill sets the percentage (rollback) of the actual value
1 34 at which residential property is to be taxed at not less than
1 35 67.5 percent for assessment years beginning January 1, 1995,
2 1 and January 1, 1996. These are the values upon which taxes
2 2 payable in fiscal years beginning July 1, 1996, and July 1,
2 3 1997, are determined.
2 4 The bill takes effect upon enactment and has a retroactive
2 5 applicability date provision.
2 6 LSB 3526HC 76
2 7 mg/sc/14
Text: HSB00517 Text: HSB00519 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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