Relating to property taxes by modifying the calculation of assessment limitations for certain property, providing a local government supplement, making appropriations, and including effective date and retroactive applicability provisions

21(4) establishes the calculation used to determine the assessment limitation for residential property and agricultural property.21(4). This bill excludes the values of the following from the calculation of the assessment limitation for assessment years beginning on or after January 1, 2022: mobile home parks; manufactured home communities; land-leased communities; assisted living facilities; parcels primarily used or intended for human habitation containing three or more separate dwelling units; and that portion of a parcel primarily used or intended for use as commercial property or industrial property that is used or intended for human habitation containing three or more separate dwelling units. The bill provides for local government supplement payments for the fiscal year beginning July 1, 2023.21(4), as amended in the bill. County treasurers shall apportion the payments among the eligible taxing districts in the county and the amounts received by each taxing authority shall be treated the same as property taxes paid. Taxing entities shall not be required to recertify budgets for the fiscal year beginning July 1, 2023, as the result of the supplement payments. The department of management shall, however, adjust property tax levy rates for the fiscal year to account for amounts received under the bill. The bill includes implementation provisions requiring the director of the department of revenue, within two business days following the effective date of the bill, to issue an amended order certifying to the county auditor of each county the percentages of actual value at which residential property, commercial property, industrial property, and property valued by the department of revenue pursuant to Code chapter 434 shall be assessed for taxation. The bill also requires each county auditor to determine revised assessed values based on the amended order and report the revised values to the department of management within days after issuance of the order and includes provisions governing the certification of county and city budgets for the fiscal year beginning July 1, 2023. The bill takes effect upon enactment and applies retroactively to assessment years beginning on or after January 1, 2022.