House Bill 1031 requires a mandatory reappraisal of parcels every three years along with a required notice on each taxpayer’s ad valorem property tax bill if the adopted millage rate exceeds the estimated roll-back rate. HB 1031 addresses the issue of the Department of Audits sales ratio study by requiring the equalized adjusted property tax digest to determine any adjustment necessary to account for the net activities on any digest due to the activities of a joint authority. The bill also provides for an appeal process for taxpayers to appeal to the superior court of the county in which the equalized is performed and have a three-year lock on their property valuation only if the taxpayer wins his/her appeal. HB 1031 also requires the annual notice of current assessment to include the current year’s estimated roll-back rate.

SUBSTITUTE

HB 1031 is now part of a substitute bill for SB 349 which also includes HB 1115. Please see the legislative tracker for a description of HB 1115.