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Senate advances fix to property-tax cap for newly incorporated cities
Summary
Senate Bill 103 would set a newly incorporated municipality's certified tax rate equal to the county's certified tax rate to avoid immediate truth-in-taxation procedures; the Senate voted to advance the bill to third reading (21 ayes, 0 nays, 8 absent).
Senator Reese told colleagues that SB103 remedies an oversight in last year's property-tax cap law by specifying that for municipalities incorporated on or after July 1, 1996, the certified tax rate should default to the county's certified tax rate. The sponsor said this avoids forcing new cities to immediately go through truth-in-taxation procedures when their certified rate matches the county rate.
A senator asked whether voters in newly incorporated cities were told their taxes would be the same as the county rate when they approved incorporation; Senator Reese replied that it was represented the property tax rate would be the same. The Senate then called for the question; roll call recorded 21 ayes, 0 nays and 8 absent, and the bill was moved to the bottom of the third'reading calendar.
The measure is primarily housekeeping to give practical tax treatment to newly formed municipalities; any municipality that seeks a higher rate would still need to comply with existing truth'in'taxation procedures.
