HB 6454 Summary

• Replaces "shall be" with "is" throughout Section 34d of the General Property Tax Act for grammatical consistency and modernization of language.

• Adds a new category of "additions" (subsection (b)(viii)) to include increased taxable value under Section 27a(3) after a transfer of ownership of property, but only for purposes of calculating the millage reduction fraction under subsection (7).

• Removes the prohibition that a millage reduction fraction cannot exceed 1 for taxes levied after December 31, 1994, and eliminates subsection (16) which had established permanent reduction of maximum authorized millage rates beginning in 1994.

• Changes "Prior to December 31, 2013" to "Before December 31, 2013" in the losses section regarding property occupancy rate adjustments.

• Removes language requiring voter approval ballots for millage renewal to specify "in that year" when asking voters to approve tax rate increases.