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.