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Senate committee hears bill to notify counties of large drops in centrally assessed property values
Summary
Senator Danley Loge introduced Senate Bill 289 to require the Department of Revenue to notify counties when a centrally assessed property's valuation falls by $1.5 million or more; proponents said the notice helps county budgeting, and the Department of Revenue provided technical context about depreciation and implementation limits.
Senator Danley Loge, sponsor and senator for Senate District 45, introduced Senate Bill 289 on behalf of Mineral County and other jurisdictions, saying the bill would require the Department of Revenue to notify counties when a centrally assessed property’s valuation drops by $1,500,000 or more.
"And part of this comes from Mineral County, the request for this bill, but other counties too would, actually could benefit from some of this information," Loge said, describing a case where a lumber mill closure in Saint Regis produced an assessed value that surprised county commissioners.
The bill, as explained by Loge, would not change valuations; it would…
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