House Bill No. 62 Summary

• Expands property tax reduction eligibility to include occupancy tax reductions for newly constructed residential improvements occupied at any time during the year, in addition to existing property tax reductions for improvements occupied between January 1 and April 15.

• Establishes an occupancy tax reduction filing deadline of the fourth Monday in January of the year following the tax year in which the occupancy tax was levied, with claims processed through a supplemental tax reduction roll submitted by the first Monday in March.

• Authorizes county assessors to notify property owners of newly occupied improvements about their right to apply for property tax or occupancy tax reductions within thirty (30) days of notification, with claims submitted by September 1 processed on the regular roll and later claims on a supplemental roll.

• Extends special property tax/occupancy tax reductions for 100% disabled veterans to include occupancy taxes at $1,320 or actual taxes owed, whichever is less, beginning in tax year 2019.

• Allows state tax commission to reimburse counties for occupancy tax reductions in a single lump sum payment by June 20 of the following tax year without subjection to late fees, penalties, or interest.