Introduced by Rep. Jud Gilbert (R) on May 10, 2012, 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 2002 Supreme Court ruling (WPW vs. Troy) 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.
Referred to the House Tax Policy Committee on May 10, 2012.
Reported in the House on May 16, 2012, without amendment and with the recommendation that the bill pass.
1) Re: 2012 House Bill 5621 (Revise commercial rental property assessment occupancy formula ) by changeagent on May 16, 2012 Considering how difficult it is to get your property taxes lowered in the first place, this billed should not be passed. In rare occasions this may be a problem but it would open the flood gates for abuse by the assessor.
2) 2012 House Bill 5621 (Revise commercial rental property assessment occupancy formula ) by admin on May 16, 2012 Introduced in the House on May 10, 2012