Andrea Mansfield, MACo’s Associate Director, testified in opposition to HB463 before the House Ways and Means Committee on February 23. The proposed legislation would require counties and municipalities to establish a semiannual payment property tax schedule for all business properties. Under current law, local governments are obligated to offer residential property taxpayers and small business owners a semiannual payment option.
HB463 presents fiscal issues for local governments. Not only are there administrative costs with sending multiple tax notices, some jurisdictions will lose interest revenues and face cash flow challenges.