Bills › 88th General Assembly
Relating to the assessment of certain subdivided real property and including applicability provisions
Sponsored by the Senate Ways and Means Committee
Topics:Housing & propertyCities & countiesTaxes
Same legislation: SSB 1150
Where it is now
- Done: IntroducedApril 18, 2019
- Skipped: SubcommitteeSkipped
- Done: Senate committeeApril 18, 2019
- Done: Passes the SenateApril 26, 201949–0
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill relates to the assessment of certain subdivided real property.1, which authorizes a county board of supervisors to adopt an ordinance providing that property acquired and subdivided for development of housing shall continue to be assessed for taxation in the manner that it was prior to the acquisition for housing until the lot is sold for construction or occupancy of housing or five years from the date of subdivision, whichever is shorter.1 also authorizes time extensions of certain ordinances that affect the assessment of property subdivided for development of housing and authorizes the time extensions of certain ordinances by counties and by cities in the portion of the applicable area located in the incorporated area of the city.
Read the full explanation
Additionally, the Code section authorizes cities and counties to adopt, amend, or extend such ordinances and provides that property acquired and subdivided for development of housing shall continue to be assessed for taxation and taxed in the manner it was prior to its acquisition for housing until the lot is sold for construction or occupancy of housing.72 provides that a platted lot for which a subdivision plat was recorded is assessed for property tax purposes as acreage or unimproved property for five years or until the lot is actually improved with permanent construction, whichever occurs first. However, for subdivision plats recorded on or after January 1, 2004, but before January 1, 2011, the time limit is eight years.72 relating to the five-year limitation and the eight-year limitation and provides that when a subdivision plat is recorded, the individual lots within the subdivision plat shall continue to be assessed for taxation in the manner that they were prior to subdivision and shall not be assessed in excess of either the total assessment of the land as acreage or unimproved property or the total assessment under the lot’s use prior to subdivision, as applicable, until the lot is actually improved with permanent construction. The bill shall not be construed to require the refund or modification of property taxes that are attributable to assessment years beginning before January 1, 2020, or the adjustment of property assessments for assessment years beginning before January 1, 2020.1 in effect on the effective date of the bill are invalid for purposes of assessment years beginning on or after January 1, 2020. The bill applies to assessment years beginning on or after January 1, 2020.
Fiscal note
Can’t be estimated Compare with other bills
The amount of property value impacted by the elimination of the time limit on the special valuation for subdivided property cannot be estimated without an extensive survey of city and county assessors and a review of local ordinances relating to the subject. 0 million. 3 million will be reimbursed through the State standing unlimited appropriation for school aid.
- Subdivided Property Taxation · April 24, 2019
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88th General Assembly
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Similar bills
- HSB 307 Relating to the assessment of certain development property, and including effective date a…91st General Assembly · Subcommittee recommends passageVery similar
Matched by wording or an identical title.