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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 California's Proposition 13.
A separate bill presented to the committee would cap the annual increase on property tax bills for an individual parcel at the lesser of the consumer price index (CPI) or 3 percent, providing an alternative, CPI-indexed approach to the constitutional cap.
Committee members also reviewed a bill to remove community colleges from the so-called "pink postcards" and the joint public-hearing requirement that counties, cities or schools must follow when property tax requests exceed the prior year. Proponents said the change would alter which taxing entities must hold joint hearings and send the mailed notices currently used for certain tax-increase communications.
The committee also considered an adjustment to refundable income tax credits that had been replaced with direct credits on tax statements during last summer's special session; the reporter said the bill would revise how those credits are administered.
Other items discussed included a proposal to allow county boards to negotiate bulk sales of tax-sale certificates to investors and a separate technical clean-up bill addressing tax-sale procedures that, at the time of reporting, remained in committee.
The reporter said that next week the committee plans hearings on LB 211 and LB 242, described as technical and substantive revisions to the property tax caps enacted during the special session.
What happens next: the revenue committee scheduled further hearings next week on the technical revisions; none of the measures described in the report had an indicated final vote recorded in the committee at the time of the report.
