Introduced
by
To establish that if a county or municipality owns a park which is not open to non-residents (and therefore not exempt from property tax under recent court cases), the taxable value of the park would be apportioned among all the real property located in the jurisdiction. This means that the assessed value of individual real estate parcels in the community would all increase by an amount equal in aggregate to the taxable value of the parkland, and the park itself would then have a taxable value of zero.
Referred to the Committee on Finance
