The most despised tax is coming down!

HB2212 passed debate. This bill makes automatic adjusts to property tax mil rates, either up or down, to make revenue from property tax
"revenue neutral". When compared to previous year revenue, as municipal property values appreciate or depreciate, the mil rates must be adjusted to compensate. Municipalities can still change mil rates if they choose to raise more revenue but the local governing body must make a decision for the rate change and own their actions. This should slow down the
exponential growth of the property tax burden. Furthermore, this bill
applies some state money to counties for an immediate buy down of the
current rate.

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By Jim Howell Tagged

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