Under the bill if a local government wants to go above the rolled back level but have to meet a higher threshold within the local governing body. And so having super majority requirements, 2/3 vote is something that's really, really positive for taxpayers. The change is expected to lower the base millage rate for many local governments because the new calculation no longer factors in personal income growth. Many jurisdictions will have less ability to increase property tax collections through the normal budgeting process. And you know, that's part of the thing with property tax. (26:43–26:52)
CLAIM
Asserts that the change will lower the base millage rate for many local governments by excluding personal income growth from calculations.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
