Limits increase of assessed value of property subject to appeal judgment following implementation of reassessment.
This bill modifies existing law regarding the "freeze" of property tax assessment appeal judgments within taxing districts performing a review and revision of all property to current market value. It allows a termination of property tax assessment appeal judgments in districts performing a review and revision of all property to current market value, but limits the tax increase to the year over year increase in the district.
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