Senate Substitute for HB 2745 by Committee on Assessment and Taxation - Providing a protest petition to contest certain increases in property tax revenues and continuing reimbursements from the taxpayer notification costs fund for an additional five years.

This bill requires local governments to get voter approval before increasing property tax revenue beyond a certain limit, which is generally a 3% increase plus revenue from new construction. If voters reject the increase, the government must stay within the limit. The bill also creates a property tax relief fund, funded by the state, to provide money to local governments that limit their property tax increases.

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