MACo: Enhance Equity in Property Tax Assessments

MACo Legislative Director Kevin Kinnally yesterday testified in support of SB 782 – State Department of Assessments and Taxation – Real Property Assessments and Appeals, before the Senate Budget and Taxation Committee. This bill generally aims to provide more transparent, accurate, and timely property tax assessments, which will enhance equity and fairness for all taxpayers

MACo agrees with the bill’s sponsor, Senator Antonio Hayes, that the fiscal note does not represent the intent of the bill. The fiscal note assumes that SDAT would need to perform regular physical inspections of every property, which is not necessary. MACo will work with the Senator and the Budget and Taxation Committee to address the fiscal impact of this legislation.

From the MACo Testimony:

Under current law, in any year of a three-year cycle, the State Department of Assessments and Taxation (SDAT) must revalue real property if substantial improvements add at least $100,000 in value to the property. SB 782 requires revaluation if substantial improvements or renovations add at least $50,000 in value to the property. This provides a more accurate estimate of a property’s true market value, creating a more level playing field for all property owners by ensuring that all taxpayers pay their fair share of the total property tax.

SDAT should be able to implement the bill’s requirements with existing resources, as local governments already provide the Department with information concerning building permits, property change of use information, property owner address changes, and other information to accurately make adjustments to the tax rolls.

Follow MACo’s advocacy efforts during the 2021 legislative session on MACo’s Legislative Tracking Database.