Authorizes municipalities to develop and implement a plan for local land value taxation.
This bill authorizes cities, villages, and towns to develop and implement a plan for local land value taxation. It allows real estate to be classified as land or land exclusive of buildings and buildings on land. The plan must maintain revenue neutrality for each municipal corporation. The bill takes effect immediately upon enactment.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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