Posted: | January 7, 2013 03:08 PM |
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From: | Senator Wayne D. Fontana |
To: | All Senate members |
Subject: | Co Sponsorship: Elimination of Property Assessment and Property Taxes Statewide |
In the near future, I plan to introduce legislation that authorize each taxing jurisdictions the ability to eliminate property assessments and property taxes statewide. Each taxing jurisdiction (county, school district and municipality) would be permitted to eliminate property tax assessments and instead given the authority to impose other taxes to replace the property tax revenues. These other taxes options would include an earned income and net profits tax, a personal income tax, sales and use tax, real property fee (per square foot), and any other tax authorized under the Local Tax Enabling Act. This legislation is a response to the current situation homeowners are facing throughout the state. Many homeowners feel that the current reassessment process is subjective, confusing, and amounts to a very costly mandate. Property assessments often result in extreme disparities in home values with some properties received favorable assessments, while others are overvalued. I feel that my legislation will not only address the serious property tax issue cities and towns across our state face but also grant local officials the ability and authority to decide which taxing method would work best in their communities. If you have any questions, please contact Brittany Bartkus at bbartkus@pasenate.com or 787-5300. |