Fiscal Note

SB0210 - Amendments to Property Tax

State Impact:
Enactment of this bill will not require additional appropriations.

Individual, Business and/or Local Impact:
Businesses operating aircraft will likely experience a decrease in property tax liability of $3,600,000. Individuals and businesses not operating aircraft will likely experience an increase in property tax of $3,600,000. On a $250,000 home, the expected tax increase would be $0.01. On a $1,000,000 business, the tax increase would be $0.70. Local taxing entities are unaffected.

2/25/2009, 11:45:06 AM, Lead Analyst: Young, T.Office of the Legislative Fiscal Analyst