MACo Backs Practical Fix for Commercial Property Assessment Gaps
On February 24, Legislative Director Kevin Kinnally testified before the Ways and Means Committee in support of HB 1088 - Property Tax - Petition to Review Value of Commercial Real Property. This bill authorizes a county or municipality to file a petition for review of the assessed value of specified commercial real property when that property sells for at least 20% more than its prior sales price. This proposal establishes a narrow, objective standard that…