House of Representatives

HB 2249

bond election pamphlets; calculations

Sponsor: Rep. May, Cooley

X	Committee on Ways and Means
	Committee on Commerce and Economic Development
	Caucus and COW
	Third Read
	As Passed the House

HB 2249 requires a calculation for determining the estimated impact of bond elections on the average assessed valuation of residential, commercial and agricultural property.

History

The informational pamphlet for bond elections has been required since 1994. The pamphlet is required to be mailed to registered voters from 10-40 days before the bond election. Currently the pamphlet must include an estimated tax rate impact for residential, commercial, and industrial properties determined by the governing body of the political subdivision.

The bill will require political subdivisions to notify voters of the actual tax impact, not just the rate, on a $100,000 property. The tax impact must be shown for residential, commercial, and agricultural properties.

Provisions

· Requires the estimated tax impact (not the rate) of bond elections on class 1 (commercial), class 2 (agricultural), and class 3 (owner-occupied residential) properties. The impact must be calculated based on property with an assessed valuation of $100,000.

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· 45th Legislature

· Second Regular Session 2 January 25, 2002

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