Revenue

This topic will include a range of property tax cleanup options to include more robust long term property tax reform enhancements. This will include the discussion of legislation to address the potential of the people’s initiative as well as alternative revenue options to replace residential property tax. This topic will also include a discussion of the possibility of implementing base year assessments for property tax, fair market value at transfer, and a review of recent legislation related to property tax. In addition, there will be a review of potential changes to the personal property tax.

This topic will include consideration of the imposition of a tax on the production of electricity. This discussion will include a review of the work of the electricity tax subcommittee from 2024 and bills that were prepared in response to that subcommittee. These discussions may also include related topics including a severance tax on wind energy facilities, distribution of sales tax on large electrical loads, the implementation of a choice electric program, and a review of the taxation of wind turbines and whether the related property is taxed as agricultural or industrial property.

This topic will include a review of the current property tax exemptions for property used for a government purpose and potential revisions that may be required to ensure the uniform application of the exemptions for governmental property.