Modifies property tax rates, assessment limitations, and fund appropriations for local governments and school districts.

The bill modifies property tax rates, assessment limitations, and fund appropriations for local governments and school districts. It changes the assessment percentages for various property types, including residential, commercial, and industrial properties. The bill also adjusts the maximum levy rates for school districts and cities, and modifies the calculation of property tax adjustment aid. Additionally, it establishes a methodology to determine maximum levy rates for cities not imposing a general fund levy.

Modifies property tax rates, assessment limitations, and fund appropriations for local governments and school districts.

The bill modifies property tax rates, assessment limitations, and fund appropriations for local governments and school districts. It changes the assessment percentages for various property types, including residential, commercial, and industrial properties. The bill also adjusts the maximum levy rates for school districts and cities, and modifies the calculation of property tax adjustment aid. Additionally, it establishes a methodology to determine maximum levy rates for cities not imposing a general fund levy.