S.F. No. 4455 Summary

• Reduces the state general levy for commercial-industrial property from $716,990,000 to $616,990,000, effective for taxes payable in 2023 and thereafter.

• Maintains the state general levy for seasonal-recreational property at $41,690,000 for taxes payable in 2020 and thereafter.

• Authorizes the commissioner to adjust preliminary or final tax rates to account for errors and tax base changes from the two preceding years if the total difference would exceed $100,000.

• Allows adjustments for erroneous reports of taxable value by local officials, erroneous calculations by the commissioner, or reported increases or decreases in taxable value for commercial-industrial or seasonal residential recreational property.