Introduced
by
To place before voters in the next general election a Constitutional amendment to establish that that, after 2010, if a property’s “state equalized value” goes up by less than either the inflation rate or 5 percent, the taxable value would not be allowed to increase as it does now under the enacting language adopted by the legislature following passage of the 1994 Proposal A. If the SEV fell, the taxable value would fall by an equivalent amount. See Senate Joint Resolution I.
Referred to the Committee on Finance
