SB-1039 Summary

• Relocates the Tax Tribunal from the Department of Treasury to the Department of Licensing and Regulatory Affairs for administrative purposes only.

• Changes petition filing deadlines for commercial and industrial property assessment disputes from May 31 to July 31 of the tax year involved.

• Extends the general petition filing deadline from 35 days to 60 days after final decision, ruling, or determination.

• Increases the small claims division jurisdictional threshold for residential property from $100,000 to $150,000 taxable value, adjusted annually for inflation.

• Allows persons claiming exemptions for principal residence (poverty), disabled veteran homesteads, and qualified agricultural property to appeal directly to the tribunal without first protesting before the board of review.

• Removes fees and costs for residential property and small claims division appeals relating to principal residence valuation and poverty exemptions.

• Enactment is conditioned upon passage of SB 1038 of the 97th Legislature.