Bill

SB 1426

85(R) - 2017
Senate Finance
Senate Finance
Property taxes

Vote Recommendation

Yes
  • Neutral
  • Positive
  • Neutral
  • Neutral
  • Positive

Author(s)

Kelly Hancock

Bill Caption

Relating to the calculation and dissemination of certain ad valorem tax rates.

Fiscal Notes

No fiscal implication to the State is anticipated.

Bill Analysis

SB 1426 would define the adjusted effective tax rate and the adjusted rollback tax rate. The designated officer or employee of a taxing unit would be required to calculate the adjusted effective tax rate and adjusted rollback tax rate for the unit. Notices regarding this information would be updated accordingly. This bill would also require the calculation of an adjusted effective tax rate and adjusted rollback tax rate with new property included, but would not require their use in any calculation that would affect adopted tax rates.

Vote Recommendation Notes

Providing additional information to property owners about effective and adjusted tax rates promotes our principles of property rights and individual liberty. Giving this information to individuals promotes transparency and accountability of local property taxes. For these reasons, we support SB 1426.