Modifies provisions relating to taxation

Summary

SB 1203 repeals several existing tax statutes and replaces them with new sections that, among other things, force any ballot measure altering a real‑property tax to state the change in dollars per $100,000 of market valuation. It also defines key tax terms, sets notification duties for assessors, and creates automatic rate‑adjustment formulas to keep revenue stable. The bill did not pass.

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