Tax Rate Information to Real Property Owners
- The rate of each levy
that it imposes; -
Any adjustments from the prior year's leviesThe prior year levy and revenue collected from the levy ; -
Whether the levy is fixed or floatingThe maximum levy that may be levied without further voter approval ; - The
applicable statutory or constitutional limits on annual levy or revenue increases, and whether the taxing authority is exempt from or has waived these statutory or constitutional limitsallowable annual growth in revenue collected from the levy ; - The actual growth in revenue collected from the levy over the prior year;
- Whether revenue from the levy is allowed to be retained and spent as a voter-approved revenue change pursuant to section 20 (7)(b) of article X of the state constitution;
- Whether revenue from the levy is subject to a specified statutory limit on annual revenue growth;
- Whether revenue from the levy is subject to any other limit on annual revenue growth enacted by the taxing authority or other local government;
-
The annual rate of growth of the levyWhether the levy must be adjusted, or whether a mill levy credit must be allowed, to collect a certain amount of revenue for the tax year and, if applicable, that amount of revenue ; and -
The mechanism for determining the annual rate of growth of the levyAny other information determined necessary by the department of local affairs .
The board of county commissioners or other body authorized by law to levy taxes must provide this information, along with the identity of the entity that fixes each levy rate, with its annual certification of levies. The Counties, in coordination with the property tax administrator, are required to ensure that this information is publicly available.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)