HB1380 Requires assessment of motor vehicles at seventy percent of trade-in value and a physical inspection of tangible personal property before the assessed value is raised more than five percent.
Sponsor: Pouche, Fred (30) Effective Date:00/00/0000
CoSponsor: LR Number: 3579L.01I
Last Action: COMMITTEE: WAYS AND MEANS
02/01/2000 - Public Hearing Held (H)
HB1380
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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BILL SUMMARIES BILL TEXT
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Available Bill Summaries for HB1380 Copyright(c)
* Introduced

Available Bill Text for HB1380
* Introduced *

BILL SUMMARIES

INTRODUCED

                            CORRECTED

HB 1380 -- Property Tax:  Valuation of Real and Personal Property

Sponsor:  Pouche

This bill changes provisions related to the assessment of motor
vehicles and other real and personal property for the purpose of
property taxation.

The bill allows the use of the original bill of sale to
determine value for the assessment of motor vehicles when the
vehicle is not classified in certain vehicle value publications
and requires a physical inspection of any real or personal
property if the property assessment increased by more than 5%
since the last assessment.

The bill also requires the assessor to use 70% of the trade-in
value published in the NADA Official Used Car Guide when
determining the true value of motor vehicles.  Under current
law, the assessor is required to use 100% of the published
trade-in value.


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Last Updated October 5, 2000 at 11:32 am