Property Tax Relief | VideoJessica Roose | 2/19/2013
We heard a lot about the need for property tax relief by voters during the primary election but haven`t heard as much about the issue this session. But lawmakers say they have been discussing it.
As home values increase so does the amount homeowners have to pay in property taxes each year. Lawmakers say they are doing what they can to bring some relief. Senator Jim Dotzenrod (D), who serves on the Finance and Taxation Committee, says there have been several proposals, including one to buy down mill levy`s.
"It would be an extension of what we`ve done the last four years, which is where we deliver property tax relief on every piece of property in the state. All classes of property and whether they`re residents or not. It`s property tax statewide delivered by paying down education mill levy`s."
He says another bill in the Senate would provide a $25,000 dollar reduction off the true and full value on a home.
"Which is something of a modest measure but it does help those properties on the lower end."
The House Finance and Taxation committee is still hearing seven bills. The chairman, Representative Wesley Belter (R) says some deal with tax reforms and others offer a specific dollar amount of relief.
"Probably somewhere in the $700 million dollar area seems to be the magic number. That`s the number that`s in the Governor`s Education Reform Bill. A similar number is in House Bill 1198."
He says while there seems to be a lot of support for the legislation, lawmakers need to make sure and pass something that can be sustained.
"At the current time we do have the money to help out with property tax reductions. But you always do have to keep in consideration what is the sustainability of the legislature to continue to do that."
Leaders in both the House and Senate say they are confident that some sort of relief will get passed this session.
When the session started, there had been more than a dozen property tax bills in each chamber. Many have already died and lawmakers will hear the rest before crossover.