Introduced
by
To eliminate a cap on the maximum amount that tax assessors can raise the assessment of rental property due to a higher occupancy rate, if the assessment had been previously lowered as a result of a lower occupancy rate. A recent Supreme Court ruling held that raising these assessments faster than inflation violates the Constitutional tax cap put in place by Proposal A in 1994, which limits assessment increases to five percent or the rate of inflation, whichever is less. See also House Bills 4476 and 4477, and Senate Bill 296.
Referred to the Committee on Finance
