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HB 0134 - Taxable value of industrial property.

Tracking Level: Oppose
Sponsor: Scott Clem
Last Action: 2/3/2017 - H:DO PASS FAILED in Accordance with House Rule 5-4: 1-8-0-
House Committee:
Assigned To:
01 - Taxes and RevenueNext Bill
02 - Local GovernmentNext Bill
04 - Business/Economic DevelopmentNext Bill
11 - Finance and ProcurementNext Bill
18 - State Administration Next Bill

Staff Analysis of the Legislation

This bill provides for a stepped increase of the property tax on new industrial property for the purpose of economic development incentives.  The property tax for the first three years of use would be 5.75%, the fourth year of use would be 9.5%, and five years plus would be the current property tax rate of 11.5%.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text