HB 17-1049 Summary

• Eliminates refund interest on property tax abatements and refunds made pursuant to petitions filed on or after January 1, 2018, with interest accruing only from the date a complete abatement petition is filed instead of from the date taxes were paid.

• For abatements or refunds with petitions filed prior to January 1, 2018, refund interest continues to accrue from the date taxes were paid, except when errors result from taxpayer mistakes in completing property schedules or statements.

• Adds a new provision allowing petitions for abatement or refund to be filed at any time after taxes are levied and an amended tax bill is generated for omitted property added by the assessor or treasurer for a prior assessment year, but before the standard two-year deadline.

• Maintains the two-year filing deadline for abatement or refund petitions measured from January 1 of the year following the year in which taxes were levied, with exceptions for certain agricultural property reclassifications and omitted property cases.

• Takes effect August 9, 2017, subject to a referendum petition; would require voter approval at the November 2018 general election if a referendum is filed.