Introduced
by
To exempt land leased for more than 35 years for the purpose of erecting power-generating windmills from the Proposal A taxable value “pop-up.” The “pop-up” is where the state equalized value (market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner, which is (usually) lower. When a parcel is leased for 35 years or more it is considered the same as a sale for “pop up” purposes.
Referred to the Committee on Tax Policy
