The Property Tax and Revenue Expenditure Study Committee is planning to meet this Friday, October 16 at 9 am MST. While previous meetings have focused on receiving information from a variety of stakeholders, the agenda for this Friday will focus on legislation drafts.
We expect discussions on legislation focusing on transparency, truth in taxation, budget caps, and possibly impact fees. Democrats from the Senate and House suggested legislation that would address leasees of publicly own property providing a replacement tax, so that may also be a point of discussion.
At the last property tax committee meeting, Co-chair Rice raised a question regarding what fees are being subsidized by property taxpayers that have not been adjusted in a long time. DMV fees and other similar fees that fall into this category may be part of the broader discussion.
Based on testimony provided by stakeholders at the last meeting, there seems to be growing support from IACI, ATI, and the Farm Bureau on Impact Fees to pay for growth, uniformity in budgeting, transparency, and the State taking over public defense and district courts as property tax reduction strategies. It will be interesting to see if the broad, growing support for these ideas will influence the committee’s focus on possible draft legislation.
To view the full agenda and find the link to watch the meeting virtually, please visit this link.