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Assessment and Taxation Committee approves multiple bill requests, including a rebate proposal for overassessed property
Summary
The Senate Assessment and Taxation Committee made requests to draft multiple bills: a rebate bill (26RS2562) allowing up to a five-year lookback for overassessed properties, consolidation of senior and veterans tax programs (RS 24 32), an exemption expansion for pre-2006 machinery and equipment (RS 27 84), and a change to appraisal hearing procedures (RS 27 13). All requests were made without recorded objections and will be drafted by the Revisor's Office.
The Senate Assessment and Taxation Committee moved forward with several bill drafting requests during its session.
Sen. Mike Thompson opened with bill introduction 26RS2562, described as a rebate bill for homeowners who sold at fair market value after having been overappraised. The bill, as introduced, would allow affected taxpayers to seek a rebate, looking back up to five years…
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