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HJR 1008 would let local governments tax personal and real property at different rates; sponsor says it could spur broadband and manufacturing investment
Summary
Representative Meeks proposed HJR 1008 to allow local governments to set different tax rates for personal and real property and permit the General Assembly to phase out or cap personal property taxes; sponsor argued the change could encourage manufacturing and broadband investment and simplify taxes for new residents.
Representative Meeks introduced House Joint Resolution 1008 to amend the state constitution so local governments could assess personal property tax at a different rate than real property tax. Meeks said the change is intended to give local governments flexibility to reduce personal property burdens that can hinder manufacturing siting, broadband deployment and impose one-time bills on new residents who…
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