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

SPONSOR:	Lopez		DATE TYPED:	02/08/02		HB
SHORT TITLE:		Impact of Rising Property Values				SB	SM 27
					ANALYST:		Smith

REVENUE

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

NFI

(Parenthesis ( ) Indicate Revenue Decreases)

SUMMARY

Synopsis of Bill

The memorial requests that the property tax division of TRD conduct a study on the impact of rising property values on traditional historic communities. The memorial also instructs the division to seek input from organizations representing traditional communities and county tax assessors.

Significant Issues

The memorials stated concern is that long time residents are forced to sell land because they have been struck by “property tax lightning” and can no longer afford to live in those communities.

SS/prr

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

Impact of Rising Property Values