Title: Limits Valuation Increases on Certain Properties
Vote to pass a bill that limits valuation increases on certain properties.
Limits valuations of residential property occupied as principal place of residence in any tax year (Sec. 1).
Specifies limit of 103% of value in tax year prior to tax year of valuation; 106.1% of value in tax year two years prior to tax year of valuation (Sec. 1).
Specifies limits of 110%, 121% for non-principal residences (Sec. 1).
Title: Limits Valuation Increases on Certain Properties