The state Senate voted to put an amendment referendum on the November ballot that would allow for larger decreases in local property taxes. The Senate voted 46-2 in favor of the referendum, which passed unanimously out of committee earlier this month. The referendum will allow voters to decide if they want to allow local taxing organizations, such as counties, school districts, and municipalities, up to 100 percent of the median assessed value of homestead property from taxes. This would be an increase from the current limit of 50 percent that was passed by voters in 1997.
The Constitutional Amendment Process: in order for a constitutional amendment to be enacted, it must be passed in two consecutive legislative sessions and approved by a voter referendum. House Bill 147 was approved by the Legislature last year, and with the approval of House Bill 1285 this week, the proposal now goes to the voters to decide. If adopted by the voters, it would allow for the elimination of school property taxes on owner-occupied residential properties.
