HJ 616 Constitutional amendment; assessment of real property (first reference).
Charles W. Carrico, Sr. | all patrons    ...    notes
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Summary as introduced:
Constitutional amendment (first resolution); assessment of real property.  Provides that beginning with the 2008 tax year, real property shall be assessed for tax purposes at no more than 105 percent of the assessed value of such property in the preceding tax year. However, if real property is sold or improved, it shall be assessed at fair market value for the tax year in which such transaction or improvement occurs. The fair market value assessment shall then be subject to the five percent limitation in subsequent tax years until such time as the property is again sold or improved.

Full text:
01/07/05  House: Prefiled & ordered printed; offered 01/12/05 050566264  pdf

Status:
01/07/05  House: Prefiled & ordered printed; offered 01/12/05 050566264
01/07/05  House: Referred to Committee on Privileges and Elections
02/04/05  House: Tabled in Privileges & Elections (18-Y 2-N)