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Revenue committee considers measures to cap property tax growth and change notice rules
Summary
The Legislature's revenue committee this week reviewed multiple bills and a proposed constitutional amendment aimed at limiting property tax growth on individual parcels, including LR 12 CA to cap valuation growth at 1.5% and a separate bill tying annual tax-bill increases to CPI or 3%.
The Legislature's revenue committee reviewed a package of proposals this week aimed at limiting property tax growth for individual parcels, including a proposed constitutional amendment and statutory revisions that would change how counties notify taxpayers.
LR 12 CA, described by the committee as a proposed constitutional amendment, would limit valuation growth on individual parcels to 1.5% annually, removing a clause the bill's proponents identify as allowing larger increases. The reporter noted the measure is modeled on…
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