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Senate Finance and Tax Committee rejects two bills that would expand "residential" property classification
Summary
The Senate Finance and Tax Committee voted to give 'do not pass' recommendations to House Bills 1152 and 1232, which would have changed how some vacant lots and accessory buildings are classified for property tax purposes.
The Senate Finance and Tax Committee voted to recommend "do not pass" on House Bill 1152 and House Bill 1232, measures that sought to expand what the tax code counts as residential property. The committee action took place during a committee meeting of the Senate Finance and Tax Committee (date not specified).
The bills sought different changes to the Century Code residential classification. House Bill 12 32 (Representative Grenich) would expand the residential category to include certain undeveloped platted lots and small multi-unit mobile-home groupings, while House Bill 11 52 (Representative Porter) would treat accessory buildings such as a garage built before a home as residential for tax-classification purposes.
Why it matters: the bills would not change a property's underlying true-and-full value but would change the tax classification and therefore the factor applied to calculate taxable value. Linda Swihovic of…
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