[1] NOTE:  As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

 

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F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

Nunez

 

DATE TYPED:

01/22/02

 

HB

49

 

SHORT TITLE:

County Tax Assessments

 

SB

 

 

 

ANALYST:

Sandoval

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

 

 

 

 

NFI

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

 

LFC Files

 

No Responses

Taxation and Revenue Department (TRD)

Department of Finance and Administration (DFA)

 

SUMMARY

 

House Bill 49 adds the requirement that the set value and taxable value of property for the two preceding tax years of the current tax year be included in notices of valuation.  This bill also requires that the amount of property taxes paid in each of the two preceding tax years of the current tax year be included in property tax bills.  The Taxation and Revenue Department and the various county assessors are responsible for these requirement changes.  

 

FISCAL IMPLICATIONS

 

None reported.

 

ADMINISTRATIVE IMPLICATIONS

 

None reported

 

POSSIBLE QUESTIONS

 

Why is this additional information being requested?

 

JFS/ar                                                                                     

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