Introduced
by
To exempt from regular property tax commercial property subject to the alternative “specific tax” proposed by House Bill 4375. The bills are a response to a 2002 Supreme Court ruling (WPW vs. Troy) which held that the Constitutional tax cap put in place by Proposal A in 1994 capped annual increases in the assessments of commercial property whose assessment had previously been lowered because of high vacancy rates. The “specific tax” would essentially mirror the property tax, but would not be covered by the Supreme Court ruling.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
