HF 1342 Summary

• Cities may adopt ordinances establishing land-value taxation districts by identifying specific parcels or geographic areas and defining a procedure for reallocating collective property taxes among district properties.

• Ordinances must include an evaluation of economic effects on redevelopment and investment within the district, conducted no less than 15 years after the district becomes effective.

• Tax reallocation procedures must use uniform rates applied to one or more tax bases: net tax capacity, referendum market value, estimated market value excluding improvements, or estimated market value excluding improvements made after a specified date.

• Cities must compile total property taxes for all properties in the district for each taxing jurisdiction, then allocate and redistribute those taxes according to the ordinance, with revised tax statements mailed to properties by April 30 and reports to the commissioner of revenue by September 1.

• Property owners in land-value taxation districts may appeal land valuations separately from improvement valuations under existing appeal provisions.