Limit the amount of property taxes that may be levied by a political subdivision

Summary

The bill would cap the amount of property taxes a political subdivision can levy each year to no more than the prior year’s total plus an "allowable growth" percentage. That percentage is calculated as 2% plus the subdivision’s real growth in property values, which includes new construction, annexations, changes in use, and increases in personal‑property valuation. It overrides existing state tax‑limitation statutes but did not pass, being indefinitely postponed.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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