HJR 58 -- Property Tax:  Reassessment

Sponsor:  Treadway

This proposed amendment to the state constitution restricts real
property tax reassessment of single family unit owner-occupied
residential real property owned by a person or persons age 65 or
older to when a title transfer on the property occurs.  Until
title is transferred, the assessed value of the property will be
the value as assessed as of December 1, 1999.

Under current statute, all residential property is reassessed
every 2 years in odd-numbered years.