Establishes the property tax use value for residential real property, mobile homes, and commercial/industrial real property in Kansas.
The bill establishes the property tax use value for residential real property, mobile homes used for residential purposes, and real property used for commercial and industrial purposes. It specifies that the tax use value shall be the lower of the fair market value or an average of fair market values over several years. The bill also outlines the assessment percentages for different classes of property, including residential, commercial, and industrial properties. The act takes effect upon publication in the statute book.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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