Senator Logie’s bill would notify counties after large drops in assessed property value

Senator Danilo Logie opened a committee hearing on Senate Bill 289 by saying the measure grew from a Monroe County request after a Saint Regis lumber mill closure led to a large reduction in assessed value. Logie said the bill would require the Department of Revenue to send an electronic notice to affected counties when a property’s assessed value decreases by $1,500,000 or more, enabling county officials to plan and offer limited input without changing the department’s final valuation.