SF0110H3004

This amendment creates a tiered assessment rate structure for owner-occupied primary residences based on property value, applying 8.3% to the first $3 million of fair market value and 9.5% to any amount exceeding $3 million.

• Modifies the 8.3% assessment rate for owner-occupied primary residences to apply only to the first three million dollars of fair market value, with any fair market value over three million dollars assessed at 9.5%. (Page 2, lines 17-8)
• Makes the same tiered assessment rate modification (8.3% for first $3 million, 9.5% for amounts over $3 million) in a second location of the statute. (Page 4, lines 8-14)
• Limits the application of zero mills assessment to only the first three million dollars of fair market value of the property for residential real property owner-occupied primary residences. (Page 5, lines 3-18)

AI-generated summary · Verify against the amendment text (PDF) · Notice a problem? Let us know