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IN HB1200
Bill
Status
1/13/2015
Primary Sponsor
Lloyd Arnold
Click for details
AI Summary
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Requires the state to make payments in lieu of property taxes (PILOT) for state-owned or state-leased parcels that are exempt from property taxes in counties where at least 15% of all land meets these criteria.
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Defines "qualified parcels" as state-owned or state-leased property subject to property tax exemptions located in eligible counties, and entitles those counties to receive PILOT payments from the state.
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Calculates PILOT amounts by assessing each acre of qualified parcels at one-fourth of the statewide agricultural land base rate value, then applying the county's property tax levy to the adjusted assessed value.
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PILOTs are collected and distributed like property taxes, may be used for any purpose property taxes support, and are treated identically to property taxes under all procedural and substantive law provisions.
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Annually appropriates from the state general fund whatever amount is necessary to pay required PILOTs, effective for property taxes first due after December 31, 2015.
Legislative Description
State payments in lieu of property taxes. Requires the state to make payments in lieu of property taxes (PILOT) for qualified parcels in counties in which not less than 15% of all land in the county is: (1) owned or leased by the state; and (2) subject to an exemption from property taxes. Defines a "qualified parcel" as a parcel that is: (1) owned or leased by the state; (2) subject to an exemption from property taxes; and (3) located in a county to which the act applies. Provides that a county containing qualified parcels is entitled to receive PILOTs
Last Action
Representative Koch added as coauthor
1/13/2015