Bill Detail: SB23-304

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Title Property Tax Valuation
Status Governor Signed (05/24/2023)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors S. Bird (D)
L. Frizell (R)
Senate Sponsors C. Hansen (D)
S. Fenberg (D)
House Committee Finance
Senate Committee Finance
Date Introduced 05/01/2023

Section 1 of the bill specifies that when a property tax assessor
values real property, the property tax assessor must consider:
  • The current use;
  • Existing zoning and other governmental land use or
environmental regulations and restrictions;
  • Multi-year leases or other arrangements affecting the use of
or income from real property;
  • Easements and reservations of record; and
  • Covenants, conditions, and restrictions of record.
Beginning January 1, 2024, section 2 requires certain counties to
use an alternative procedure to determine objections and protests of
property tax valuations in any year of general reassessment of real
property that is valued biennially.
Currently, at the request of a taxpayer, a property tax assessor is
required to provide the taxpayer with certain data that the assessor used
to determine the value of the taxpayer's property. Section 3 clarifies that
the data the assessor is required to provide must include the primary
method and rates the assessor used to value the property.

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