Legislative Session number- 81

Bill Name: SF3770

Relating to the property tax; modifying the computation of school district
referendum equalization levies levied against certain property and exempting
agricultural and homestead property from the general education tax; reducing the
property tax classification rates for certain residential and agricultural
homestead, commercial industrial, apartment, nonhomestead, seasonal residential
recreational and mining property and eliminating the separate treatment of
property located in transit zones; changing the education homestead and
education agricultural credits to the general education homestead and
agricultural exemption; reducing local government aid (LGA) to cities and towns,
providing a homestead and agricultural credit aid (HACA) reduction and providing
for an aid reduction levy; establishing a new homestead credit program for
residential and agricultural homestead property, specifying certain duties of
the county auditor and the commissioners of revenue and children, families and
learning and appropriating money to the commissioners to pay the credit
reimbursements; modifying certain tax rate computation and proposed property tax
notice (truth in taxation) and statement provisions to reflect the homestead
credit changes; modifying the city and county levy limit base (ra)