SB23-304 Summary

• Requires property tax assessors to consider current use, existing zoning, governmental land use or environmental regulations, multi-year leases or contractual agreements, easements, and covenants or restrictions when establishing actual property value.

• Mandates counties with populations greater than 300,000 use an alternative protest and appeal procedure during years of general reassessment when property is valued biennially, with written determinations issued by the date specified in Section 39-5-122(2).

• Requires assessors to provide taxpayers upon written request the primary method and rates used to value property, data from declarations filed pursuant to Article 14 of Title 39, and any confidential data (presented so source cannot be identified) within three working days.

• Takes effect 12:01 a.m. on the day following expiration of the 90-day period after final adjournment of the general assembly, unless subject to a referendum petition filed by the people prior to that time.