The Best and Worst of Property Tax Administration

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1 Th Bst n Wost of Popty Tx Aministtion COST Scoc on Stt Popty Tx Aministtiv Pctics Fick J. Nicly My 2011 Dougls J. Tun Excutiv Summy Fi popty tx ministtion is citiclly impotnt to both iniviul n businss txpys. Fom n iniviul pspctiv, th popty tx is oftn intifi s th most ht tx, i supssing both th incom tx n th sls tx in txpys low stimtion. Whil much-vil, howv, it is unlikly to go wy nytim soon sinc th popty tx povis ppoximtly 65% of locl school vnus. ii Bcus stt n locl juisictions ly so hvily on th popty tx, it is ssntil fo stt lgisltos n tx ministtos to nsu th tx is minist fily n without pcptions of bis o unu ministtiv buns. Txpys much mo willing to fily n fully comply with popty tx systm pciv s unbis, quitbl n fficint. Th Council On Stt Txtion (COST) is th pmi stt tx ogniztion psnting multijuisictionl txpys. COST is nonpofit t ogniztion consisting of nly 600 multistt copotions. COST s mission is to psv n pomot quitbl n noniscimintoy stt n locl txtion of multijuisictionl businss ntitis. Ov th lst 100 ys, th popty tx hs gully shift fom tx gnlly impos t th stt lvl (ccounting fo 43% of stt vnu in th ly 1900s), to cicumstncs toy wh 98% of th popty tx is impos t th locl lvl ccounting fo ov 70% of vnus fo locl govnmnts. iii Popty txs toy ccount fo lss thn two pcnt of stt vnus. iv Bcus of th potntil buns on businsss cus by this cntliztion, it is vitl fo stt govnmnts to ovs th options of locl ssssos to nsu popty txs unifomly n fily ssss. v Viw fom th businss community s pspctiv, popty txs compis fully 36.5% of th totl stt n locl tx bun impos on businss fo FY 2009, f xcing ll oth txs impos on businsss by stt n locl juisictions. vi This quts to $215.3 billion in popty txs nnully n mount which, conty to cunt conomic tns, continus to stily incs y to y. vii In, cnt stuy not tht th Distict of Columbi, Floi, Inin, n Nw Mxico w foun to hv incs popty tx collctions by ov 10% nnully (on p cpit bsis) fom fiscl y 2007 to fiscl y viii This Scoc vluts th following chctistics of stt n locl popty tx systms tht in ou viw psnt fi popty tx ministtion on stt by stt bsis: A fi popty tx systm must hv stniz filing, mittnc n ppl pocus thoughout th stt; 2011 Council On Stt Txtion (COST) 122 C Stt NW, Suit 330 Wshington, DC Phon: F Nicly is COST s Tx Counsl n th stff mmb ssign to ssist COST s Popty Tx Committ. H is fomly Chif Counsl to th Ohio Dptmnt of Txtion. Doug Tun is Dicto of Popty Txs fo th nl Elctic Compny n svs s chi of th COST Popty Tx Committ.

2 Th ppl pocss fo popty tx isputs must b bfo n inpnnt tibunl, in novo hing, without py-to-ply quimnt fo isput popty txs; n Th popty tx bun must b blnc n unifom n not shift onto businss txpys. This scoc complmnts oth scocs COST hs issu to vlut stt ministtiv tx pctics. COST cntly upt Th Bst n Wost of Stt Tx Aministtion scoc in Fbuy, Aitionlly, COST hs vlut stt unclim popty lws fom th popty hols pspctiv in Th Bst n Wost of Stt Unclim Popty Lws. This Scoc, Th Bst n Wost of Popty Tx Aministtion, spcificlly sss stt popty tx ministtiv pctics, tking into ccount th fct tht popty txs minist t both th stt n locl govnmnt lvl. Simil to th pio scocs, this Scoc nks objctiv pocul pctics of stt n locl popty tx ministtiv pctics. Stong ovsight fom th stt (usully th stt s chif tx uthoity) is sibl fo th potion of th popty tx minist loclly. Top 5 n Bottom 5 Rnk Stts: Top-Rnk Stts Bottom-Rnk Stts Stt Stt Myln A- Nw Yok F Floi B+ Dlw D- ogi B+ Illinois D- Kntucky B+ Pnnsylvni D- Ogon B+ Hwii D Intouction COST is non-pofit t ogniztion tht psnts nly 600 multistt copotions ngg in intstt n intntionl businsss. This Scoc pomots COST s mission sttmnt of psving n pomoting quitbl n noniscimintoy stt n locl txtion of multi-juisictionl businss ntitis. In 2008, COST fom Popty Tx Tsk Foc ix focus on ffots to impov stt n locl ministtion of popty txs. On of th initil gols of th Tsk Foc ws to vlop COST policy sttmnt on fi n quitbl popty tx ministtion. In Octob, 2008, th COST Bo opt th Tsk Foc s commntions. Tht policy sttmnt s s follows: Position: Stt n locl popty tx systms must b fily minist n tx buns quitbly istibut mong txpys. A popty tx systm tht is infficint o tht ispopotionlly flls upon businss is not quitbl n will ngtivly impct stt s businss tx climt. Unifom Tx Bs n Rts A popty tx bs ispopotionlly compising businss popty is not blnc. Th tx ts impos on popty us fo businss puposs shoul not significntly iff fom th tx ts impos on popty us fo sintil puposs. Th mkt vlu n ssss vlu tios fo businss n sintil popty shoul lso b simil. Futhmo, intngibl popty, such s t nms, custom ltionships n goowill, shoul not b inclu in th popty tx bs bcus such popty is ssocit only with th mngmnt of businss, n th msumnt of such vlu is xtmly subjctiv. Finlly, wholsl xmptions of popty us fo sintil puposs n tificil cps tht o not qully pply to popty us in businss inhntly unfi n fisclly unsoun. Efficint Filing Pocus Th fomt n filing u ts fo popty tx tuns, incluing qusts fo supplmntl infomtion n xtnsions, shoul b unifom coss th Stt n llow nough tim fo pop compltion ft th vlution lin t. Txpys shoul b povi sufficint tim to viw ssssmnts (.g., 60 ys) so s to minimiz th numb of potctiv ppls tht fil. Stmlin pocus shoul b povi fo popty owns to obtin xmptions. A sttwi vlution mthoology tht is conuct in cconc with Unifom Stns of Pofssionl Appisl Pctic (USPAP) n upt on gul bsis to fcto in chngs in vlu, incluing pcition n ll foms of obsolscnc, shoul b utiliz. An fficint popty tx systm shoul lso utiliz mon lctonic filing mthos n povi fo xclusions fom poting n pying tx on minimis mounts of popty. Cntliz Rviw n Unifom Appl Pocus If popty tx tuns fil loclly, cntl gncy shoul viw n hv ovsight ov loclitis popty tx pocus. Appl pocus n ts fo popty tx vlutions shoul b unifom coss th stt. Dcisions of locl popty tx viw bos shoul b subjct to novo viw by n inpnnt tibunl, pfbly on tht hs sttwi juisiction n n xptis in popty txtion. Tx Pymnt Rquimnts on Contst Vlutions Locl govnmnts n oth bnficiis of popty txs cn suff significnt hm whn vlution isputs l to substntil funs of popty txs tht hv ly bn ppopit. Illy, txpys shoul only hv to py th tx on th unisput vlu o only on potion of th contst vlu of th popty. Altntivly, whn significnt mount of tx is in isput, such mounts shoul b kpt in scow to minimiz th hm to th bnficiis of th tx shoul th txpy pvil in th isput. At th b minimum, if uc pymnt o scow is not llow, th bnficiis of th tx must b notifi of th isput to nsu th isput tx vnu is us puntly. Any intst chg must pply qully to ovpymnts n unpymnts. Mny of th issus intifi in this Scoc bs on concns is by th Appisl Fountion, n ntity uthoiz by Congss. Th Appisl Fountion is nonpofit ogniztion with two bos: th Appis Qulifiction Bo, which stblishs minimum uction n 2

3 xpinc quimnts fo ppiss, n th Appisl Stns Bo, which issus th Unifom Stns of Pofssionl Appisl Pctic (USPAP). COST s vlution is lso consistnt with th sttmnt of vlus pomulgt by th Intntionl Assocition of Assssing Offics ( IAAO ) upon which its Co of Ethics is bs. x Th IAAO is nonpofit ogniztion of govnmnt ssssmnt officils n oths intst in th ministtion of popty txs, with mission of pomoting innovtion n xcllnc in popty ppisl, ssssmnt ministtion n popty tx policy. Th following th IAAO s vlus: 1) Commitmnt to th impovmnt of th popty tx systm wolwi; 2) Accountbility to th public goo; 3) Commitmnt to xcllnc in ssssmnt ministtion byon popty tx; 4) Rspct fo th woth n ignity of ll iniviuls; 5) Pomotion of inclusivnss, finss n ivsity; 6) Obligtion to ogniztionl tnspncy, intgity n honsty; 7) Pctic of sponsibl stwship of soucs; n 8) Diction to xcllnc n mintining th public tust. Th IAAO hs lso publish book ssing th Funmntls of Tx Policy tht nots finss, quity n unifomity shoul pomint in goo popty tx systm. xi Th COST Stuy: Highlighting th scop of th complinc bun, th COST Popty Tx Tsk Foc conuct bnchmking stuy to tmin if COST mmbs h significnt iffncs with how thy compli with th stts popty tx lws. In summizing th t fom th bnchmking stuy, 32 COST mmbs pticipt, inicting thy hv popty tx filing sponsibility in n vg of 38 stts, with th smllst sponnt hving filing sponsibility in svn stts. Most COST mmbs sponing to th bnchmking suvy (40%) inict thy h filing sponsibility in ov 45 stts. Thos COST mmbs lso pot pying ov $3.5 billion in popty txs nnully, split oughly 50/50 btwn l n psonl popty tx. To mit thos txs, thos COST mmb compnis qui to pocss ov qut of million tx bills fo pymnt. Nin compnis in th stuy pocss ov 10,000 popty tx bills p y. Lstly, th bnchmking stuy foun tht COST mmbs w uit on gul bsis. Th vg numb of popty tx uits fc by COST mmb sponnts ws 24 p y. Fo this initil Scoc, both l n psonl popty ss togth, long with poptis tht cntlly ssss (.g., mny public utilitis). In gnl, most l popty is ssss t th locl lvl. Stts vy on wh th psonl popty tx is minist. Som stts minist it loclly, som compltly t th stt lvl n oth stts us combintion of both. Mny public utilitis, incluing fomly gult ntitis, hv ll thi popty tx minist t th stt lvl. Miscllnous popty txs impos on ctin typs of popty, such s moto vhicls, outsi of th scop of this Scoc. This Scoc focuss on objctiv fctos in vluting stt s popty tx ministtiv pctics. Objctiv vlutions pimily bs on stt n locl govnmnt lws n gultions. Subjctiv issus with vious stt n locl ssssos n thi pctics not th focus of this Scoc. Thos subjctiv vlutions cn chng ov tim pning on who is th cting tx sssso in juisiction; n oftn influnc by th ltionship compny n/o inusty hs with spctiv ssssos. Th us of objctiv citi compots with COST s gol in issuing this suvy to povi th stts with issus thy cn chng lgisltivly (o by ulmking) in o to impov popty tx lws to chiv fi n mo quitbl popty tx systm. This Scoc os not focus on th vntgs (.g., ltiv s of locting txbl l popty n vnu stbility) o isvntgs (.g., pymnt not ictly ti to incs in wlth o incom) to stt n locl govnmnts using popty txs s vnu souc s comp to oth txs. PROPERTY TAX SCORECARD This Scoc vluts multipl citi lump into th pimy subjct s: 1) Stniz Pocus; 2) Fi Popty Tx Appl Pocus; n 3) Rsintil Popty Tx Buns vs. Businss Popty Tx Buns. W lso inclu n Oth Issus componnt to ss issus not spcificlly ss in on of th pimy goups. A til xplntion of ch subctgoy is inclu ft th scoing tbl lt in this pot. Stniz Pocus. This goup contins fiv subctgois: 1) Sttwi stniz u ts fo ll popty tx filings n pymnts; 2) Sttwi us of stniz foms (vy impotnt whn businsss qui to fil pots with locl juisictions of stt) n ovsight by stt gncy; 3) Rsonbl l popty tx vlution cycls (vy two to th ys); 4) Exclusions fo minimis popty vlus n/o bills; n 5) Equl intst ts ppli to ssssmnts of itionl tx u n ny tx ovpymnts. Fi Popty Tx Appl Pocus. This nxt goup contins fou subctgois, th ssntil lmnts of fi popty tx ppl pocus. Th subctgois : 1) Th initil ppl lin must b fi n sonbl (t lst 60 ys); 2) Th bun of poof to sustin n ppl must b sonbl; 3) D novo viw bfo n inpnnt tibunl must b vilbl ft compltion of ny ministtiv viw t both th stt n th locl lvl; n 4) Th isput potion of th popty tx shoul b scow o ptil pymnt of th tx shoul b llow in th vnt of isput. 3

4 Rsintil Popty Tx Buns v. Businss Popty Tx Buns. This lst goup contins th subctgois n consis whth th popty tx bun is nutl o unuly buns businss popty mo thn sintil popty. Th following fctos w consi in this gouping: 1) Assssmnt tios on vious typs of popty; 2) Tx ssssmnt cps; n 3) Equl popty tx buns. Th focus on qul popty tx buns is bs on whth th ovll tx bun impos on th businss scto is gt thn tht impos on sintil popty in th stt (i.., th focus is not on miscllnous popty tx xmptions nowly tgt t ctin owns of sintil popty). As stt in Policy Focus Rpot publish by th Lincoln Institut of Ln Policy: Th vinc shows tht limits on ssss vlus, whil fvo by mny homowns, ply flw mns to count ising popty txs n By sving th connction btwn popty vlus n popty txs, ssssmnt limits impos wily iffing popty tx obligtions on owns of inticl popty; uc conomic gowth by istoting txpy cision mking; n gtly uc th tnspncy n ccountbility of th popty tx systm s whol. xii Oth Issus. Ctin issus with spct to stt ministtiv popty tx pctics o not fit within th pvious ctgois. COST mmbs n pctitions w sk to intify itionl poblms with stt s popty tx ministtion tht w not ictly ss in on of th spcific ctgois. Not tht this Scoc os not ictly ss spcific vlution issus lt to ctin inustis (such s public utilitis, incluing ntitis fomly gult s public utilitis). Howv, wh ppopit, points givn to thos stts tht inquitbly inclu intngibl popty in th vlution of ths ntitis whn such popty is xclu fom popty txtion fo ll oth typs of businsss (incluing sintil poptis). ing th Suvy xiii Point totls w tmin fo ch subctgoy fom th bov goups using 0 to 4 ging systm. Th high th sco, th mo th stt s popty tx pctics vit fom COST s commntions fo fi n fficint popty tx systm. On point ws ssign to ch issu list in th Oth Issus ctgoy contin in th nl Infomtion sction of th Scoc. No oth ging ws inclu in th nl Infomtion potion of th Scoc tht infomtion is povi solly fo infomtionl puposs. Th following scl ws us fo th finl ging of th scoc: Stniz Pocus (mx 20 points) Fi Tx Appl Pocus (mx 16 points) Rsintil v. Businss Popty (Unfi Bun) (mx 12 points) Totl Sco A 0 to 4 0 to 3 0 to 1 0 to 11 B 5 to 10 4 to 5 2 to 4 12 to 20 C 11 to 15 6 to 10 5 to 6 21 to 31 D 16 to to 13 7 to to 38 F Abov 18 Abov 13 Abov 10 Abov 38 Summy Rsults Th summy tbl on Pg 5 nks ch stt s sults in complying with th subctgois scib bov. Mo til infomtion is povi blow n th suvy sults povi fo ch gouping bginning on pg 10 of this suvy. 4

5 Stniz Pocus Fi Tx Appl Pocus Rsintil v. Businss Popty Oth Issus Totl Sco Stt (Mx. 20) (Mx. 16) (Mx. 12) AL 8 B 6 C+ 10 D 1 25 C- AK 15 C- 11 D 3 B 1 30 C- AZ 9 B- 8 C 9 D 0 26 C- AR 7 B 8 C 3 B 1 19 B- CA 8 B 11 D 4 B C- CO 0 A 9 C 9 D 2 20 B- CT 15 C- 6 C+ 4 B C- DE 20 F 10 C- 4 B D- DC 6 B 9 C 11 F 1 27 C- FL 6 B 3 A- 5 C 0 14 B+ A 3 A 3 A- 5 C 2 13 B+ HI 17 D 8 C 9 D 0 34 D ID 12 C 7 C 3 B 0 22 C+ IL 17 D 9 C 8 D 1 35 D- IN 12 C 5 B- 7 D 1 25 C- IA 10 B- 9 C 10 D 2 31 C- KS 7 B 8 C 7 D 1 23 C KY 7 B 6 C+ 1 A 1 15 B+ LA 13 C 9 C 8 D 2 32 D ME 15 C- 5 B- 4 B C- MD 1 A 6 C+ 3 B 1 11 A- MA 11 C+ 5 B- 8 D 1 25 C- MI 6 B 8 C 6 C B- MN 11 C+ 5 C 7 D 0 23 C MS 6 B 12 D 6 C C- MO 11 C+ 5 B- 7 D 2 25 C- MT 10 B- 11 D 8 D 2 31 C- NE 9 B- 9 C 1 A 1 20 B- NV 8 B 13 F 4 B C- NH 14 C 4 B 0 A 1 19 B- NJ 16 D 8 C 4 B C- NM 11 C+ 8 C 6 C C- NY 20 F 10 C- 10 D 3 43 F NC 10 B- 6 C+ 0 A 3 19 B- ND 9 B- 12 D 3 B 0 24 C OH 7 B 6 C+ 6 C B- OK 5 B+ 4 B 7 D 2 18 B OR 6 B 4 B 2 B B+ PA 19 F 8 C 6 C D- RI 15 C- 10 C- 7 D 0 32 D SC 12 C 3 A- 11 F 1 27 C- SD 9 B- 8 C 4 B C+ TN 11 C+ 9 C 6 C C- TX 7 B 3 A- 6 C B- UT 3 A 7 C 5 C 2 17 B VT 9 B- 10 C- 2 B C+ VA 18 D 8 C 2 B C- WA 10 B- 9 C 1 A 1 21 C+ WV 9 B- 12 D 6 C C- WI 11 C+ 12 D 3 B 0 26 C- WY 11 C+ 4 B 3 B 1 19 B- 5

6 SPECIFIC CRITERIA USED FOR FAIR PROPERTY TAX ADMINISTRATION Stniz Pocus Th stt-by-stt til on Stniz Pocus stts on pg 10. As not in th COST bnchmking suvy iscuss bov, multijuisictionl compnis oftn qui to pocss thousns of popty tx bills. It is citicl fo stts to implmnt stniz pocus to llow ths businsss to mo fully n fily comply with stt n locl popty tx lws. Stniztion fosts n opn n tnspnt pocss tht lso hlps uc th ngtiv pcption, whth l o pciv, tht txpy must hv n insi connction to civ fi ttmnt in tx sssso s juisiction. 1) Stniz Du Dts: Du ts fo popty tx tuns/pots must b consistnt coss th stt. Inconsistnt u ts tht vy by locl juisiction n/ o vy fom y to y ct n unu complinc bun on businss txpys. Fotuntly, 23 stts sco n A fo implmnting stniz u ts fo filings n pymnts. Th popty tx sttuts of ch stt shoul clly povi unifom ts intifying whn ll filings n pymnts u. Du ts shoul not b lft opn to th isction of locl ssssos. W liz, howv, tht stt o locl ssssos shoul hv th flxibility to xtn u ts to l with unfosn cicumstncs (.g., mssiv flooing in th community, unxpct chngs in popty tx vlution, tc.). 2) Stniz Foms & Ovsight: Bcus mny stts hv huns of popty tx juisictions, it is unconscionbl to llow ch txing juisiction to qui spt n istinct foms fo poting popty txs, n to initit n ppl of popty vlution. Fo fficincy puposs, mny businss popty txpys mng thi popty tx options t cntl loction. It cts tmnous n unncssy bun on businss txpy to fil uniquly iffnt foms in vy popty tx juisiction wh th txpy hs popty. It cn lso l to gossly unfi pnltis fo filu to fil th coct fom o filing to poply mit pymnt by non-stn u t. Wos, it cn l to ismissl of popty tx ppl simply bcus spciliz fom qui to initit n ppl ws not complt. To voi such buns, cntl stt gncy, typiclly th stt vnu ptmnt, shoul pscib ll foms n shoul qui thos foms to b unifomly ccpt by th stt s locl ssssos. Such n gncy shoul lso mintin stong ovsight of vlution pctics us by locl ssssos. Fo xmpl, if obsolscnc/pcition tbls us to vlu psonl popty, ll ssssos in th stt shoul b qui to unifomly us th sm tbls incluing unifom xcptions to th us of such tbls. In ition, wh pplicbl, sls tio stuis shoul b us by th cntl stt gncy to confim tht ssssos ssssing, within n ccptbl mgin of o, th mkt vlu of th popty (i.., th pic pi fo th popty by willing buy n sll with nith un compulsion to buy o sll). It is impotnt fo th cntl stt gncy to focus on th gol of ssssing th popty t mkt vlu; it shoul not hv to continuously quliz popty vlus o tx ts to l with ssssos in txing juisictions tht inquitbly ssss popty t vlu gt o low thn mkt vlu. 3) Rl Popty Vlution Cycl Evy 2 to 3 Ys: Th il l popty tx vlution cycl is not nnul, but vy two to th ys. This is bcus som poptis qui xtnsiv ppisl tchniqus, mking it infficint n impcticl to vlu ll poptis in n sssso s juisiction on n nnul bsis. Mkt vlus cn quickly chng, howv, so vlution (i.., ppisl bs on ctul visul inspction of th popty) tht occus mo thn vy th ys is inppopit n cn l to vstly iffnt vlus on simil poptis, pning on whn th popty ws lst ppis. Comphnsiv vlutions lso pf ov pioic mi-cycl vlutions. Mi-cycl vlutions typiclly us only limit sttisticl t to moify th vlu of poptis in givn txing juisiction. It is lso impotnt fo th vlution cycl to b fix t st pio of tim in th lw. Th timing of popty vlution shoul not b t th option of th sssso, glss of whth th tmintion is bs on som fom of sttisticl nlysis. It is toubling tht in Conncticut, Dlw n Nw Yok, ssssos hv not conuct comphnsiv vlution of poptis in ctin txing juisictions fo mo thn tn ys. Dvitions fom th fix vlution cycl ppopit only whn ncssy to flct th ctul vlu of th popty sulting fom cnt sl, ssuming th popty ws sol in n m s-lngth tnsction. 4) Exclusion fo D Minimis Vlus: It is wst of soucs to qui txpys to fil pots on popty with insignificnt vlus. In mny such css, th cost to pot n minist th tx on th popty is gt thn th popty tx collct. Som stts hv ss this issu. In Floi psonl popty tx tun is not u to county if th totl vlu of th popty is lss thn $25,000. Rgttbly, th Scoc inicts tht most stts o not hv sttutoy povisions tht povi fo non-poting of minimis vlus. COST stongly ncougs stts to nct minimis povisions to ssist both txpys n tx ssssos. This minimis xclusion shoul lso pply to th pymnt of txs. If pcl hs tx bill of lss thn st mount, bill shoul not b issu. Ctin COST mmbs inict thy hv civ popty tx bills fo lss thn oll. Kuos to Floi, which gnts county commissions th isction to limint popty tx bills un $30. 6

7 Stts shoul lso llow bills issu by stt n/o locl ssssos to b consolit fo pymnt by th txpy. If th consolit bill fo ll popty own by txpy in th txing juisiction is un ctin mount,.g., $30, no tx bill shoul b snt. 5) Equl Intst Rts: Intst ts shoul fily flct th tim vlu of mony. Accoingly, th imposition of intst on linqunt pymnt of tx shoul b th sm n no gt thn th intst pi by stt o locl govnmnt fo th ovpymnt of popty tx. Only 11 stts w foun to impos th sm intst t on popty tx ficincis s thy o funs. Th t intst bgins to ccu is lso impotnt. Som stt n locl govnmnts will impos intst bs on th fist t pymnt is lt, but th fun of intst my b bs on t subsqunt to th ctul pymnt of th tx. Absnt sonbl mount of tim fo ssssos to coct billing n ssssmnt os,.g., chngs m within 60 ys of th popty tx billing, funs shoul b ntitl to th sm t of intst bs on th sm msumnt pio. Fi Popty Tx Appl Pocus Th stt-by-stt til on fi popty tx ppl pocus stts on pg 22. Pticully with spct to psonl popty, ou popty tx systm lis on th volunty submission by popty owns of infomtion to ssist ssssos in vluing th txbl popty in txing juisiction. A systm pciv s unfi n/o bis os not ncoug popty txpys to b opn n willing to sh infomtion with ssssos bout conitions impcting th vlu of txbl popty. Fo full cooption, txpys n listic mount of tim to fil n ppl, sonbl bun of poof, novo viw of n sssso s o popty tx bo s finings, n th bility to ptilly py o scow ny isput tx. 1) Initil Appl Dlin: Txpys sking to fil popty tx ppl to locl sssso, locl popty tx bo, o, if pplicbl, to stt tx gncy, shoul hv t lst 60 ys fom th foml wittn notic of th ssss vlu of th isput popty. Th il tim pio is 90 ys, which is th pio of tim to ppl spcifi in th Mol Stt Aministtiv Tx Cout Act of th Amicn B Assocition. xiv Unfotuntly, 23 stts impos n initil popty tx ppl pocss tht ffos txpy with lss thn 30 ys notic to ppl. Fo xmpl, Kntucky os not povi n qut tim pio to ppl n inccut ssssmnt. In Comwll Louisvill Associts v. Commonwlth of Kntucky, xv txpy tht fil to ppl th sssso s vlution within 13 ys fom th inspction pio ws not llow to subsquntly chllng th popty vlution, vn though stipult vlution o sult in popty tx ovpymnt of $67,327. Most toubling is tht som ssssos, whn chnging popty s vlu, not qui by sttut to sn vlution notic ictly to th txpy. Minimum u pocss quis fi notic; mly publishing notic in th locl nwspp o on th sssso s bulltin bo is not sufficint. 2) Bun of Poof: It is customy with most tx ppls fo th bun of poof to st with th txpy. Howv, popty tx is uniqu in tht th txpy oftn hs no ict contct with th sssso whn th initil tmintion is m fo th mkt vlu of th popty. Rflcting tht lity, som juisictions impos th initil bun on th sssso to psnt vinc to show th bsis fo th vlution of th popty. This is th pf bun. Anoth ccptbl mtho is to plc th bun on txpy to pov th txpy s sst vlution of th popty by pponnc of th vinc (th bun nomlly impos in oth stt tx isputs). Any itionl bun, such s cl n convincing stn, is gossly unfi. Th is no justifiction fo imposing bun of poof stn simil to th stn us by som juisictions to pov fu. COST is pls to pot tht Floi n Wst Vigini hv cntly chng thi lws to plc n unfi bun of poof quimnt with mo sonbl pponnc of vinc stn. 3) D Novo Appl: In gnl, th pf tx ppl pocu is to gnt txpys n initil ministtiv viw bfo tx sssso o bo ict to hnling popty tx ppls. Such n ppl povis txpys n ssssos with n oppotunity to quickly solv isputs bs on os o oth fctul iscpncis. Howv, subsqunt ppls shoul b to n inpnnt tx tibunl; n such viw shoul b novo; i.., th co fo ppl shoul not b st t th initil ministtiv (non-inpnnt) hing lvl. Futh, th popty own shoul b bl to is nw issus n vinc bfo th inpnnt tx tibunl, such s n ppisl n/o tstimony fom xpts tht my not hv bn vilbl (o povi) t th initil hing with th tx sssso o th popty tx bo. 4) Escow o Ptilly Py Disput Tx: Lg popty txpys oftn onously blm fo cusing finncil hm to community by ppling n sssso s vlution o qusting fun on popty subsquntly foun to b ovvlu. Businsss unstn tht popty tx vnus citicl fo funing mny impotnt govnmnt functions, pticully fo pimy n scony public school uction. Howv, it is unfi to citiciz popty txpys fo sking ppls o funs whn thy initilly foc to py th full mount of isput tx (i.., py-to-ply tx systm) whn th fult sts with th sssso who impoply vlu th popty. A popty tx systm tht quis isput popty txs to b pi in full in o to ppl (n thus voi lt pymnt pnltis), cts n incntiv fo vlution officils to voi ppopit justmnts to popty s vlution whn it is bov th popty s fi mkt vlu. Th pctic by ctin stts of quiing full pymnt of isput popty txs must n. 7

8 On simpl (n pf) solution is to llow txpys to py th popty tx on only th unisput vlu of th popty. If popty s vlu is foun to b gt thn th unisput mount ft ll ppls xhust, ny itionl tx ow shoul b pi by th popty txpy, with intst. As scon bst ltntiv, th isput tx shoul b plc n hl in n intst-bing scow ccount until th isput is solv. Eith ppoch mitigts politicl pssu on both tx officils n th txpy to uc th popty tx cipints xposu to funs sulting fom pymnt of th isput potion of th popty tx. Rsintil Popty Tx Bun v. Businss Popty Tx Bun To nsu nutlity, th popty tx bun must b sh qully btwn businss popty n sintil popty. A stt tht imposs low ssssmnt t n/o low nnul cp on popty gowth fo sintil popty, s comp to businss popty, is unfily shifting th bun of th popty tx to th businss scto. Stting on pg 32, this Scoc intifis popty tx systms tht plc high popty tx bun on businss popty. (Tgt xmptions povi to ctin owns of businss n/o sintil popty not cov in this nlysis.) 1) Assssmnt Rtios: Illy, th ssssmnt tio fo popty vlutions in stt shoul b 100% of th fi mkt vlu of ll txbl popty in th stt. Fo vious sons, som stts ssss ll popty t lss thn fi mkt vlu, but th sm pcntg of fi mkt vlu shoul pply to ll txbl poptis. Inquitis is whn ctin poptis (.g., public utility poptis n som oth cntlly ssss poptis) ssss t high t thn oth poptis in th stt o vlu iffntly (.g., unit vlution) to impos gt tx bun on tht popty. xvi In, som stts impos multipl clssifictions of popty, ch with iffnt ssssmnt ts. Som stts lso llow ssssmnt tios to vy fom loclity to loclity, futh complicting complinc n ministtion. Whn ll txbl popty is vlu t 100% of fi mkt vlu, th tx bcoms mo tnspnt. It is si fo owns of popty in th stt to unstn thi popty tx bills n to comp tx ts impos on popty thoughout th stt. 2) Tx Assssmnt Cps: Anoth mchnism us by som stts to shift th bun of th popty tx to businss is th imposition of cps on th gowth of popty tht only pplis, o mo fvobly pplis, to sintil poptis. Fo xmpl, Floi n Inin both povi cps on sintil n businss popty; howv, th cps fvo sintil popty. Floi cps sintil popty t th high of 3% o infltion whil businss popty is cpp t 10% (xcluing nw constuction). Inin s cp stuctu ngs fom 3% fo som businss popty to 1% fo own-occupi homs. Th pf tx stuctu imposs no cps, n tx ts woul just ccoing to th ovll vlution bs in txing istict. A cnt stuy vluting popty cps by th Lincoln Institut fo Ln Policy commn thi limintion (long with homst xmptions) s wy to mk th popty tx systm mo quitbl. xvii If cps impos, thy shoul pply qully to businss n sintil popty;.g., Clifoni s nnul gowth cp is 2% o infltion, whichv is lss. xviii 3) Equl Popty Tx Bun: If th cumultiv ffct of xmptions ffo to sintil popty owns unfily shifts th bun of th tx to th businss scto, n imblnc popty tx stuctu tht os not qutly istibut th popty tx bun to ll popty owns in stt is ct. Whil th vious homst xmptions stt offs povi in th tbl, th scoing fo this ctgoy ws pimily bs on th Minnsot Txpys Assocition s 50-Stt Popty Tx Compison Stuy fo txs pybl in xix Tbl 19 in tht stuy comps th ffctiv tx t on $1 million commcil popty to tht of min-vlu hom in slct mtopolitn s of ch stt. Th high th tio, th mo commcil poptis subsiizing th popty txs pi by homowns. Fotuntly, 15 stts hv ffctiv tx ts tht inict both typs of poptis tt qully tio t o clos to 1. On th oth n, six stts, incluing Nw Yok (with Nw Yok City), impos ffctiv tx ts on commcil poptis tht th to six tims gt thn thos impos on sintil popty. An Iho cs, Simmons v. Stt Tx Commission, 723 P (1986), scibs th impct of 50% (up to $50,000) homst xmption ov tim. Tx ts significntly incs in o to py fo th homst xmption, which in tun incs th tx bun impos on th non-xmpt popty owns. xx nl Infomtion Excpt fo th Oth Issus column, th gnl infomtion sction stting on pg 39 ws not g. This sction of th Scoc inclus th typs of popty txpys in stt, th txbl popty in th stt (.g., som stts o not ssss psonl popty), th gnl vlution t fo th popty in stt, n th initil juisiction tht hnls popty tx ppl. Spcific Suvy Qustions Th following th spcific suvy qustions snt to popty tx ministtos of ch stt, to COST mmbs, n to popty tx pctitions. nl Infomtion 1) Wht ctgois of businss txpys tx in th stt (gnl businss, utilitis, tlcommunictions, ilo, oil n gs, tc.)? Which of ths ctgois of txpys loclly ssss n which cntlly ssss? 8

9 2) Wht typ of popty is txbl in th stt (l popty, psonl popty, o both)? 3) Wht th popty vlution ts n ssssmnt ts fo poptis in th stt? 4) Wht juisiction(s) hnls th initil ppl of popty tx ssssmnt? Stn Pocus 1) A th sttwi stniz u ts fo filings n pymnts? 2) A th sttwi stniz foms us fo filings (tuns/pots, ssssmnts, ppls, tc.)? 3) How oftn is l popty in th stt vlu? 4) Is th n xclusion llow fo popty tht is of minimis vlu o woul ct minimis tx bill (.g., no bills issu fo un $10)? 5) A qul intst ts us by th txing uthoitis fo both intst on unpymnt of txs n fun intst on ovpymnt of txs? Fi Tx Appl Pocus 1) Wht is th lin fo txpys to initilly ppl popty ssssmnt in th stt? How mny ys os th txpy hv fom th notic of ssssmnt to th lin to ppl? 2) Who hs th bun of poof t th initil ppl? Wht lvl of poof must b povi in th initil ppl? 3) Is novo stn of viw us t th subsqunt lvl of ppl? 4) If th txpy chooss to chllng th ssssmnt, cn th tx b scow? O cn th txpy mk ptil pymnt of th unisput tx until th vlution isput is conclu? Rsintil v. Businss Popty 1) Wht th iffnt ssssmnt tios us to vlu th iffnt typs of popty n/o iffnt typs of businsss in th stt? 2) Dos th stt hv cps? If so, how o thy pply to businss popty comp to sintil popty? 3) Dos th stt hv homst xmptions, n th xmptions now (.g., tgt tows spcil goups of txpys such s snios n isbl) o bo (.g., pply to lmost ll sincs)? Acknowlgmnt of Appcition Although th numb of sponnts is too numous to list, COST woul lik to cknowlg n thnk thos who pticipt in th bnchmking suvy n th pouction of this Scoc, incluing COST mmb compnis, popty tx pctitions n stt popty tx psnttivs. Thi pticiption is ply ppcit. 9

10 Stt Stniz Du Dts fo Filings/Pymnts? AL Ys. Rpots u: l n psonl popty filings u b/t 10/1 n 12/31 (Al. Co ); utility filings u on 3/1 (Al. Co , -17). Pymnts u: l, psonl, n utility popty: following 10/1 (Al. Co ). Fight lin n quipmnt compnis pymnt u upon 30 ys fom t of th pliminy ssssmnt (Al. Co ). AK No. Vis loclly. But oil n gs tuns my b qui by th stt (AS , AS ). AZ Ys. Rpots u: 4/1 (A.R.S ). Pymnts u: fist hlf by 10/1 n oth hlf by 3/1; fo tx mounts un $100, th nti mount is u 10/1 (A.R.S. Sc ). AR Ys. Rpots u: 5/31 (ACA ). Pymnts u: 1 st businss y in Mch though 10/15; txs u fom utilitis n cis must b pi in instllmnts ccoing to schul povi by sttut (ACA ). Stniz Pocus Stniz Foms & Ovsight? A Ys, cn us stt o county foms. Rl Popty Vlution Cycls Evy Two to Th Ys? Exclusion fo D Minimis Vlus? Equl Intst Rts? A At lst onc vy th ys. A No. F No. Intst is not pi on th ovpymnt of txs (Al. Co ). Totl Totl F 8 B F No. F No spcific intvl (shotst pcticl tim) (AS ). Stt n municipl txbl popty is vlu nnully (AS ). D No. F Ys. Annul t of 8% fo stt oil n gs tx (AS ). Intst on linqunt municipl txs shll not xc 15% p y (AS ). A 15 C- A Ys. A Annul (A.R.S ), with ctin popty vlu th sm fo up to th ys (A.R.S. Sc ). B No. F No, nnul 16% t fo unpymnt (A.R.S ). F 9 B- A Ys. (Non fo ppls of cntlly ssss popty.) B Rl popty - minimum of vy 3 ys (ACA ()). Utility n ci popty is vlu nnully. C No F Ys, 10% (ACA ). A 7 B 10

11 Stt Stniz Du Dts fo Filings/Pymnts? CA Ys. Rpots u: nl psonl popty tun u 4/1 (with utomtic xtnsion until 5/7. Popty tx pymnts u 12/10 n 4/10 (C.R.T.C. 441). In gnl, psonl popty u 8/31 (som locl vition). Fo loclly ssss popty ppls cn vy bs on whn county sssso sns out notics of ssssmnt. CO Ys. Rpots u: 4/1 fo cntlly ssss popty (C.R.S ); 4/15 fo psonl popty (C.R.S ) n 4/15 mining, oil & gs poptis (C.R.S (1)(h), ). Pymnts u: fist hlf 2/28 n oth hlf u 6/15 (C.R.S ). Fo tx mounts of $25 o lss, pymnt is u by 4/30 (i.). CT Ys. 6/1 fo filing incom n xpns pots fo incompoucing l stt; 11/1 fo filing psonl popty cltions n qunnil pots fo xmpt popty own by non-pofit n uctionl institutions (C..S ). DE No. Filing n pymnt ts vy by county (Knt: 6/1; Nw Cstl: 7/1; Sussx: 5/1). Stniz Pocus (Continu) Stniz Foms & Ovsight? C Ys, howv, countis my county-spcific info w/ th ppovl of th Stt Bo of Equliztion. Rl Popty Vlution Cycls Evy Two to Th Ys? B In gnl, l popty subjct to 2% chng p y fom Pop. 13 (Cl. Const., 2, At. XIIIA). Rvlu t ownship chng o mjo constuction which chngs th utility of popty (C.R.T.C ; 18 CCR ). Psonl popty vlu nnully. A Ys. A Two-y ssssmnt cycl (chng in vlu cn b m in scon y of cycl if n unusul conition xists) (C.R.S (10.2)). Exclusion fo D Minimis Vlus? C Ys, obligtion to fil psonl popty sttmnt only if gggt cost of popty hl xcs $100,000 (C.R.T.C.. 441). Countis my lso nct n oinnc to cncl minimis bills of not mo thn $10,000 (pviously $5,000) if th costs of collction n ssssmnt unjustifi) (S.B. 822, Lws 2009, ffctiv Jn. 1, 2010). A Ys, minimis povision fo psonl popty ($4k fo C.R.S ). Equl Intst Rts? A No. Loclly ssss popty is 9% fo unpymnt n 3% fo ovpymnt. Stt ssss popty is 9% fo both unpymnt n ovpymnt. A Ys, 1% p month (C.R.S ). Totl Totl D 8 B A 0 A A No stniz foms, but CT Assocition of Assssing Offics hs som tmplts n foms. D Rl popty must b vlu t lst vy 10 ys (C..S (b)). F No F No, 18% intst fo unpymnt (C..S ) n up to 10% isctiony intst fo ovpymnt (C..S. 37-3). F 15 C- F No, vis by county n municiplity F No povision fo pioic viw. Oppotunity to ppl l stt nnully; howv, pplbl vlu gos to lst ssssmnt t. Dt of lst ssssmnt vis by county, Knt County ws F No. F No. F 20 F Continus 11

12 Stt Stniz Du Dts fo Filings/Pymnts? DC Ys. Rpots u: l popty - 4/15 fo incom poucing poptis, psonl popty bfo 8/1 (D.C.C ). Pymnts u: l popty - 3/31 n 9/15 (D.C.C ()). FL Ys. Psonl popty tx tuns must b fil by 4/1 (F.S ). Txs u bfo 4/1 th y following th y in which th txs ssss (F.S ). A Ys fo filings, no fo pymnts. Psonl popty sttmnts u by 3/1 o 4/1 pning on county. O.C..A , Du ts fo txs vy n som countis qui th tx to b pi in instllmnts. HI Ys, xcpt ppl lin in Honolulu iffs (1/15 v. 4/9). Rpots u: 1/15 fo l popty tuns (HRS ) n 10/20 fo public utility compnis (HRS 239-4). Pymnts u: fist instllmnt on 8/20 n scon on 2/20 (HRS ). Stniz Pocus (Continu) Stniz Foms & Ovsight? A Ys (on tx juisiction), but still woking on som foms. Rl Popty Vlution Cycls Evy Two to Th Ys? B Evy on to th ys (D.C.C ). Exclusion fo D Minimis Vlus? B Ys, psonl popty w/ cunt vlu of $225,000 o lss. Equl Intst Rts? A No. Rl popty 10% on unpymnt n 6% on ovpymnt (D.C.C. v (c)); psonl popty- 5% on unpymnt n 6% on ovpymnt. Th is lso 20% (ffctiv Oct. 1, us to b 15%) collction f on vy pymnt. A Rtuns stn; ffctiv 3/2010 ppl foms stn. Stt foms vilbl t o/foms/ownlo/!vl. html. B Annully, w/inspction vy 5 ys. Popty is vlu s of Jn. 1 ch y (F.S (2)). B Ys, no psonl popty tun qui in county with lss thn $25,000. Th Bo of County Commissions hv isction to opt solution to limint ny tx bill blow $30 (F.S ). A No. In gnl, if tx is ow on l popty th intst t is 18% (F.S ). Fo psonl popty th intst t is 15% o 12% (goo fith) (F.S (10), (10), (10), , (9), n (1)). No intst on funs o ovpymnt of txs. C Ys A Rl popty vlution cycl is vy 3 ys. County ppisl stff must pp ssssmnts nnully (Rg ). Countis igsts viw vy 3 ys; howv, th is no mnt schul fo ppisls. Sttut quis popty t fi mkt vlu nnully. B Ys, psonl popty tht os not xc $7,500 in vlu (O.C..A ). A Ys. 1% p month (O.C..A ). B No, vis by county. F Diffs by county. F No. F No intst on ovpymnt, HRS Sc /3 to 1% monthly intst fo linqunt popty txs (HRS ). Totl Totl F 6 B F 6 B A 3 A F 17 D 12

13 Stt Stniz Du Dts fo Filings/Pymnts? ID Ys. Rpots u: psonl popty filing fo loclly ssss popty - 3/15 (IC ), 11/1 fo tnsint psonl popty (IC ), 1st Mony in Novmb fo popty bought in fom outsi th stt (IC Y), 4/30 fo opto s sttmnt fo cntlly ssss popty (IDAPA ). Pymnts u: 1st hlf 12/10, 2n hlf 6/20 (IC ). IL No, filing n pymnt ts vy by county. Th sttwi uls pplicbl whn filing ppls with th Illinois Popty Tx Appl Bo (S 86 ILCS 1910). Fo th most pt, pymnts pybl in two instllmnts - 6/1 n 9/1 (35 ILCS 200/21-5); but cn b lt by locl oinnc. IN Ys. Rpots u ts stniz: psonl popty filings u 5/15 (In. Co , ). Pymnts u: 5/10 n 11/10 (In. Co , ). Stniz Foms & Ovsight? B No; th stt pps ctin foms but us is not mntoy. F No. Th sttwi foms pplicbl whn filing ppls w/ th Illinois Popty Tx Appl Bo. A Ys. Psonl popty tuns fil on stt pscib foms - htm Stniz Pocus (Continu) Rl Popty Vlution Cycls Evy Two to Th Ys? C Annully, supplmnt by ppisl incluing physicl inspction t lst vy 5 ys (IC ). Exclusion fo D Minimis Vlus? Equl Intst Rts? B No. F Unpymnt - 1%/month (IC ); ovpymnt funs pmissiv on th pt of county commissions (IC ). Totl Totl F 12 C D Evy fou ys (35 ILCS 200/9-215), xcpt vy th ys in Cook County. C No. F No. F 17 D A Sttutoily vy 5 ys (In. Co ); howv, th stt implmnt th nnul justmnt (tning) pocss in 2006 (th lst ssssmnt ws 2002). Th is lgisltion pning tht woul implmnt cyclicl ssssmnts, whby 20% of th pcls ssss in 5 y pio. F No. F No, unpymnt - 10%; ovpymnt - 4% (In. Co , ). F 12 C Continus 13

14 Stt Stniz Du Dts fo Filings/Pymnts? IA Rpots u to locl ssssos not stniz, oth pots n pymnts stniz. Pymnts u: 9/30 (fist hlf) & 3/31 (scon hlf) (Iow Co 445/36A). KS Ys. Rpots u: Psonl popty - btwn 1/1 n 3/15 (K.S.A ); moto cis n utilitis (inclus ilos) - 3/20 (K.S.A ); oil n gs ls - 4/1 (K.S.A ). Pymnts u: l n psonl popty - 12/20 (K.S.A , ). KY Ys. Listing pio fo l popty: 1/1-3/1. Du t, psonl popty: 5/15 (KRS ). Collctions bgin 10/1 o 11/1 (KRS (1)). LA No, mny xcptions. Rtuns u: 2/15 fo finncil institutions (L. R.S. 47:1970); 3/1 fo insunc compnis (L. R.S. 47:1954); 4/1 fo public svic compnis n l & psonl popty (L. R.S. 47:2324), xcpt psonl & l popty tuns u 45 ys ft cipt of foms in Jffson Pish. Dtmintion of xmption on 1/1 of ch tx y (L. R.S. 47:1952), xcpt Olns Pish, tmintion m s of 8/1 in pcinng y (L. R.S. 47:1703(B)). Pymnts u: 12/31 (L. R.S. 47:2101(A), 47:2171) xcpt 2/1 in Olns Pish (L. R.S. 47:1997(B)). Stniz Pocus (Continu) Stniz Foms & Ovsight? C Rpots u to th locl ssssos not stniz. Rl Popty Vlution Cycls Evy Two to Th Ys? C Loclly ssss l popty is vlu vy two ys (Iow Co 428.4); cntlly ssss popty is vlu nnully. Exclusion fo D Minimis Vlus? Equl Intst Rts? A Minimum Bill of $2. C No intst on ovpymnt n unpymnt ws 1.5% intst p month (Iow Co ). A Ys. A Annully (K.S.A , ). B Ys, whn psonl popty tx is lss thn $5 (K.S.A ). C No. Intst t is 2% lss IRS shot-tm intst t fo funs n 2% mo fo unpymnts (K.S.A ). A Ys. A No lss thn vy 4 ys (KRS ). B No unifom xclusion; cision by locl officils w/$10 mximum. C No, bs on pim t chg by Kntucky bnks (KRS ). D Ys. A Rl popty - vy 4 ys; psonl popty - nnully (L. R.S. 47:2331). Ths povisions lso pply to public svic popty (L. R.S. 47:1978.1(A)(1)). C No F No, 1.25% p month on unpymnt (L. R.S. 47:2101). Totl Totl F 10 B- F 7 B F 7 B F 13 C 14

15 Stt Stniz Du Dts fo Filings/Pymnts? ME No, xcpt 5/1 fo pot climing businss quipmnt xmption (36 M.R.S.A. 693(1)) n btwn 8/1 n 12/31 fo BETR ppliction (S Fom 800, 36 M.R.S.A. 6655). Rtuns u: 4/1 fo psonl n l popty (36 M.R.S.A. 706). Pymnt u ts vy mong loclitis. MD Ys. Rtuns u: 4/15 (TP ). Pymnts u: 7/1 but gc pio until 9/30 (TP ). MA Ys fo filings, 3/1. M..L.c No fo pymnts. Pymnts u: two pymnts, 11/1 n 5/1. Locl option (us by 2/3s) fo qutly pymnts. M..L.c ). MI Ys fo filings, no fo pymnts. Psonl popty sttmnts u by 2/20 ch y (Mich. Comp. Lws ). MN No, but psonl popty is gnlly xmpt. Pymnts u: fist hlf - 5/15 n scon hlf - 10/15 (Minn. Stt ) Stniz Pocus (Continu) Stniz Foms & Ovsight? D No. No xcpt fom fo climing businss quipmnt xmption n foms fil un th BETR pogm (S 36 M.R.S.A. 6655). Rl Popty Vlution Cycls Evy Two to Th Ys? D No st schul, physicl inspction qui t lst vy fou ys (36 M.R.S.A. 706-A, 5721-A). Exclusion fo D Minimis Vlus? D Ys, psonl popty lss thn $1,000 (36 M.R.S.A. 655). A Ys. A Evy th ys (TP 8-104(b)(1)). A Ys (psonl popty lss thn $250). D Ys. A Sttutoily, nnully (M..L.c , 38A & 39). Locl cn occu lss fquntly, but t lst vy th ys. (M..L.c ). B No gnlly. Locl option to xmpt psonl popty ccounts vlu up to $10,000. ((M..L.c. 59 5). C Ys. A Annully. B Ys, but limit -mchnics tools (Mich. Comp. Lws 211.9(h)); $550 fo houshol who uss own psonlity in option of businss in on loction (Mich. Comp. Lws 211.9(k)). B No pticul fom qui fo Chp. 278 ptition; smpl cptions, foms, n ptitions vilbl. A Rl popty is ssss (n subjct to justmnt) nnully, on-sit inspction/ ppisl of popty is qui t lst vy 5 ys (Minn. Stt ). D Any popty w/lss thn $100 of vlu is oun up to $100 n tx t tht mount (Minn. Stt ). Thus, popty lss thn $100 is tx s if its vlu ws $100. Equl Intst Rts? C No, n ovpymnt intst t vy by municiplity but cnnot b lss thn 4% of linqunt t. B Ys, 1% p month (TP ). Locl tx intst t is 2/3 of 1% p month (TP ). D No (ovpymnts - 8%; unpymnts - 14%) (59 M..L.c , 57C n 69). D Ys, intst t is 1% p month fo both un n ovpymnts of tx (Mich. Comp. Lws (3), (1), ). D No. Intst t on unpi tx fo 2010 is 3% ( txs.stt.mn.us). Fo unpymnts, txpys must complt Schul M15 to clcult thi intst. Lt pymnts = 4% intst n itionl 5% intst if pi 181 ys ft u t (Minn. Stt & ). Totl Totl F 15 C- A 1 A F 11 C+ A 6 B F 11 C+ Continus 15

16 Stt Stniz Du Dts fo Filings/Pymnts? MS Ys. Psonl popty nition foms u 4/1 (MCA , -49). Pymnts u: 2/1 of th following y (MCA ). MO Ys. Rpots u: psonl popty lists fom txpys gnlly u 3/1 (RSMo , ), stt ssss poptis pots u 4/1. Pymnts u: no lt thn 12/31 (RSMo ). MT Ys fo pot u ts. Rl popty tx pymnts u 11/30 n 5/31 (MCA , ). Psonl popty tx pymnts bs on miling of tx bill - 30 ys ft cipt of tx bill. NE Ys. Rpots u: 5/1 (R.R.S.N ). Pymnts u: 12/31 (R.R.S.N ). Excpt tx pybl in two instllmnts, u 5/1 n 9/1 (R.R.S.N ) o 4/1 n 8/1 fo countis with popultion ov 100,000. NV Ys. Rpots u: 7/31 (NRS ). Pymnts u: scu pymnts - thi Mony in August (NRS ), instllmnts - fist Mony in August, Octob, Jnuy, n Mch (NRS ). Appls u: 1/15 to county n 3/10 to stt bo. Stniz Pocus (Continu) Stniz Foms & Ovsight? Rl Popty Vlution Cycls Evy Two to Th Ys? A Ys. A All l popty pcls must b physiclly obsv n upt vy 4 ys (MS Stt Tx Comm n Pop. Tx Bu., Rul 6). Exclusion fo D Minimis Vlus? C Ys (MCA (g),(h),(j),(l),(),(s) n (t)). Equl Intst Rts? Totl Totl A No F 6 B A No. Foms fo poting loclly ssss psonl popty not stniz. Appl foms to th Stt Tx Commission n poting foms fo stt-ssss popty stniz. D Evy two ys on 1/1 (onumb ys) (RSMo ). A No F No (S RSMo ; php). F 11 C+ C Ys. A Cntlly ssss popty vlu nnully (MCA ), oth l popty ppis vy six ys. F Ys, psonl popty xmption of $20,000. A No, ovpymnts bs on shot tm invstmnt fun t n unpymnt t is 10%. F 10 B- A Ys ( A Annully (R.R.S.N , -1301). B No F No, unpymnt is 2%; fo ovpymnts no intst qui to b pi fo fiv ys. F 9 B- A Ys. A Mntoy 5 y ppisl quimnt (NRS ). Most ppis ln nnully. Not: th two lgst countis in Nv, Clk n Wsho, conuct nnul ppisls of ln n impovmnts. D Ys, fo psonl popty tx bs on vg cost of collction, usully $15.20 (NRS (2)). B No, vis. Unpymnt spns fom 4-7% pning on how pst u (NRS ). F 8 B 16

17 Stt Stniz Du Dts fo Filings/Pymnts? NH Ys. Rpots u: 4/15 (RSA 74:7). Pymnts u: 12/1 (RSA 76:13 :15-c), howv som juisictions my povi fo sminnul o qutly pymnts. NJ No. Vis btwn citis, townships, n booughs. nlly pots u on o bfo 9/1 (N.J.S.A. 54:4-2:28). Pymnts qutly - u 2/1, 5/1, 8/1 n 11/1 (N.J.S.A. 54:4-66); but bcus of bugt issus, mny bills lt xtning pymnt t. NM Ys. Rpots u: lst y of Fbuy (NMSA ). Pymnts u: 11/10 n 4/10 (NMSA (A)). NY No, filing n pymnt ts vy by ssssing n txing juisiction. Pymnts u: 1/31 (RPTL 924(1)), xccpt NYC - 7/1 n 1/1 (unlss qui to b pi in 4 instllmnts--i.. popty ov $80,000) (NYC Cht 163(b), 1519(1)). Stniz Foms & Ovsight? B Stt lvl - ys; locl lvl - not lwys (s stt.nh.us/vnu/foms/ inx.htm#popty_txs). D Ys. Tx Cout foms stniz, but som countis insist on us of thi own foms. A No, whil th stt hs foms fo cntlly ssss popty, th is consibl vition t th locl lvl. F No. Som foms vilbl t ny.us). Stniz Pocus (Continu) Rl Popty Vlution Cycls Evy Two to Th Ys? C Rl popty ssss vy 5 ys, whil som businss poptis vlu vy y (x. - utility popty). Exclusion fo D Minimis Vlus? Equl Intst Rts? D No. F No (unpymnt -12%; ovpymnt - 6%) (RSA 76:13; s RSA 80:32, :60). B No sttutoy o constitutionl cycl. My b on voluntily by municiplity t ny tim, o s o by county bo of txtion n Dicto of Txtion o Supio Cout. Asssso hnbook quis ssssmnt ft popty impovmnts (Th Hnbook fo Nw Jsy Assssos, NJ Stt Div. of Tx (1989)). F No. F No, unpymnt - 8% on fist $1,500 n 18% thft; ovpymnt - 5% (N.J.S.A. 54:4-67). D Annul (NMSA ). Rgultion llows ssssos to us two-y ppisl cycl with pmission of th stt s Popty Tx Division. NMSA B No. County commissions hv option to bill txs un $10 in singl instllmnt. D No, unpymnt 1% p month (NMSA ); ovpymnt is bs on county invstmnt of funs t. F Diffs, typiclly nnul (.g., NYC). Th is no sttwi quimnt, so locl pctics vy. Som hv not ssss in mny cs. F No. F No. Fo NYS, st by Comm pusunt to Tx Lw 697(j) n cnnot b lss thn 1% p month. Fo NYC, fo popty ov $2,750-15% (NYC Amin. Co (f) n (g)) n fo popty un $2,750-7% p y (NYC Amin. Co (f) n (l)). Totl Totl F 14 C F 16 D F 11 C+ F 20 F Continus 17

18 Stt Stniz Du Dts fo Filings/Pymnts? NC Ys. Rpots u: 1/31 (N.C..S ). Pymnts u: 9/1 (N.C..S ()). ND Ys. Rpots u: 2/15 n 5/1 fo ilos (N.D. Cnt. Co , -07) n 5/1 fo public utilitis (N.D. Cnt. Co ). Pymnts u: 1/1 (N.D. Cnt. Co ) n must b pi by 3/1 to voi linquncy. OH Du t fo cntlly ssss popty pots is Mch 1. Countis hv iffnt ts fo l popty pymnts. OK Ys. Rpots u: 3/15 (68 O.S. 2835). Pymnts u: 1/1 n 4/1 (68 O.S. 2913). OR Ys. Rpots u: 3/1 (ORS ). Pymnts u: 11/15, 2/15, n 5/15 (ORS ). PA No, filing n pymnt ts vy by county. Stniz Pocus (Continu) Stniz Foms & Ovsight? Rl Popty Vlution Cycls Evy Two to Th Ys? A Ys. A Rl popty must b ppis t lst onc vy 8 ys but county cn ppis ll l popty on shot cycl if so si o if thi sls tio gos blow 85% o ov 115% (i.. if popultion is 75,000 o mo, thn must ppis vy 3 ys). Vlu cycl subjct to mnipultion (N.C..S , -287). Exclusion fo D Minimis Vlus? F Ys, txing juisictions cn st minimum oll mount t which tx bill is not issu. This minimum mount hs to b lss thn $5.00 (shoul flct th tx collction costs). Equl Intst Rts? Totl Totl C No. F 10 B- A Ys. Fo loclly ssss popty, th sttwi stniz foms fo Notic of Incs of Assssmnt n Appliction fo Abtmnt. A Annully (N.D. Cnt. Co ). All popty is qui to b ssss t its tu n full vlu on 2/1 (loclly ssss) o 1/1 (cntlly ssss). In pctic, th tim btwn physicl inspctions of popty vis. B No. F No. Intst ts on unpymnt st by stt sttut n unifom thoughout th stt. No intst is pi on funs of ovpymnt of txs. 12% intst impos on unpi txs on y ft thy bcom u. F 9 B- C Ys. A Rl popty upt vy 3 ys but full ppisl is only conuct vy 6 ys (Ohio Rv. Co , Ohio Amin. Co Rul ). D Ys, ssssmnts fo th cunt tx y tht lss thn $2.00, th county uito my uc such mount to zo. C Ys (s Ohio Rv. Co , ). A 7 B A Ys. A Annully. Rl popty must b visully inspct t lst vy 4 ys (68 O.S. 2820). B No. F Ys (68 O.S. 2913). A 5 B+ A Ys (s gov/dor). A Annully on sttisticl bsis, no st quimnt whn poptis must b physiclly inspct (ORS ). C Ys, tuns still mntoy; ssssmnts on psonl popty cncl if lss thn st mount. ORS B No. Ovpymnts 1% n unpymnts 1.33% (ORS , ). D 6 B F No. F Annully, no st bs y fo l popty vlution cycl (72 P.S , 5347, , 5354,601). Constitutionl chllngs pning. D No. F No, fo 2008 unpymnts hv 7% intst t whil ovpymnts hv 5% intst t. Rts fo linqunt txs vy btwn countis. F 19 F 18

19 Stt Stniz Du Dts fo Filings/Pymnts? RI No, u t vis by municiplity (R.I. n. Lws $ , -15). SC No. Rpots u: 4/30 (SC Co ). Pymnts vy by city (SC Co ). SD Ys. Rpots u: Tlphon, public svic n piplin - 4/15 (SDCL ); ilo - 5/1 (SDCL ) n ilinns - 6/1 (SDCL ). All psonl popty is xmpt. Pymnts u: 4/30 n 10/31 (SDCL ). TN No. In gnl, pots u: 3/1. Pymnts u: 2/28 (howv, pymnts fo Mmphis u: 8/31 n 2/28). TX Ys. Rpots u: 4/15 (TEX. TAX CODE 22.23). Pymnts u: 2/1 of th following y (TEX. TAX CODE 31.02). Stniz Pocus (Continu) Stniz Foms & Ovsight? D Ys (s R.I. n. Lws ). Rl Popty Vlution Cycls Evy Two to Th Ys? A Town n citis must vlu l popty ch 10th y ft is fist vlution (R.I. n. Lws ); som signt loclitis must vlu vy 3 ys (R.I. n. Lws ). Exclusion fo D Minimis Vlus? Equl Intst Rts? F No. F No, unpymnts - 18%; ovpymnts % (s tx.stt.i.us/misc/ IntstRtChng php). C Ys (s A Rl popty vlu vy 5 ys (SC Co ). D No. F No, whil intst t on unpymnts n ovpymnts is 5%, fom July 1, 2008 though Jun 30, 2009 th ovpymnt t ws uc by 2%. A Ys. A Annully. B No. F No. Intst on ovpymnts is 4% (SDCL ); intst on unpymnts is 10% (SDCL ). F Ys, cn us stt foms. A Countis on ith 4, 5 o 6 y ppisl cycl (T.C.A ). D No. F Ys - 1% p month (T.C.A ). A Ys, cn us stt fom; howv, som ppisl isticts hv vy bis pfnc fo locl foms. B At lst vy 3 ys (TEX. TAX CODE 25.18). B Ys, minimis ppli to tx bills. B Whil 1% p month fo both (TEX. TAX CODE 33.01), stt gts 60 ys to py n with unpymnt n itionl pnlty of 12% fo th fist month n 1% p month thft pplis. Intst ccus on th mount fun t nnnul t of 12% (TEX. TAX CODE 31.12). Totl Totl F 15 C- D 12 C F 9 B- A 11 C+ F 7 B Continus 19

20 Stt Stniz Du Dts fo Filings/Pymnts? UT Ys. Rpots u: within 60 ys of bing qust by sssso (usully mil by 1/1) (U.C.A ). Pymnts u: 11/30 (U.C.A ). VT No, pots u: 4/20 (32 V.S.A. 4004) n pymnt ts vy by municiplity. (32 V.S.A. 4772) VA No. Rpots gnlly u 5/1 (V. Co ) but vy in som loclitis. Pymnts gnlly u 12/5 (V. Co ) but vy loclly. WA No. Rpots u: 4/30 (RCW ). Pymnts u: 4/30 n 10/31 (RCW , ). Som countis 30 ys to ppl n oths 60 ys (RCW ). WV Ys. Rpots u: 7/1 o 10/1 (W. V. Co ). Pymnts u: 9/1 n 3/1 (W. V. Co 11A-1-3). Stniz Pocus (Continu) Stniz Foms & Ovsight? A Ys (s gov). Rl Popty Vlution Cycls Evy Two to Th Ys? A Annully (U.C.A ). Poptis ssss t fi mkt vlu. Physicl inspction of poptis t lst onc vy 5 ys. Slt Lk County hs n nnul ssssmnt cycl. Exclusion fo D Minimis Vlus? B Ys fo psonl popty, lss thn $3,800 (s poptytx.uth.gov/). Equl Intst Rts? Totl Totl C Ys (s U.C.A ). A 3 A D Ys. A Annully (gnlly on 4/1) (s 32 V.S.A. 4050). Vis by municiplity though ll municipl subjct to sttutoy ppisl stns (s 32 V.S.A. 4041). C No. F Ys, 1% fo fist 3 months, thn 1.5% ch month o ptil month thft. 32 V.S.A A 9 B- F No. F Dpns on which locl govnmnt is ssssing th popty. Rl popty in citis nnully o binnilly, but city < 30,000 my lct to wit 4-ys (V. Co ). Countis must ssss t lst vy 4 ys, but my lct to wit up to 5-6 ys whn povi by lw o th popultion is lss thn 50,000 (V. Co ). F No. F Ys. 10% (V. Co ) but locl juisictions my povi iffnt t (V. Co ). C 18 D D Ys, cn us stt o county foms. A Rl popty vis fom on to 4 ys; ll popty physiclly inspct onc vy 6 ys (RCW ) King County (Sttl) hs n nnul ssssmnt cycl. D Ys, l n psonl popty un $500 (RCW ). A No, 12% fo un pymnt (s RCW (5)), much low vibl intst t fo ov pymnt bs on shot tm Tsuy bill ts. F 10 B- A Ys (s Stt. wv.us/txiv). A Physiclly inspct vy 3 ys n ssss nnully (W. V. Co 11-1c-7). B No. F No, th intst t on unpymnt is 9% p y. In gnl, no intst on ovpymnt unlss o by cout. F 9 B- 20

21 Stt Stniz Du Dts fo Filings/Pymnts? WI Ys. Rpots u: 3/1 (Wis. Stt (3)). Pymnts u: 1/31 (in pt o full) n scon instllmnt u 7/31 (Wis. Stt ). Psonl popty tx pymnts u: 1/31 (Wis. Stt (3)). WY Ys. Rpots u: 3/1 (W.S (b)(v)). Pymnts u: 11/10 n 5/10 (W.S ). Stniz Pocus (Continu) Stniz Foms & Ovsight? Rl Popty Vlution Cycls Evy Two to Th Ys? A Ys. A Loclly ssss popty vis wily. Annul fo mnufctuing popty; stt must complt fil invstigtion o on-sit ppisl vy 5 ys (Wis. Stt (5)(b)). Exclusion fo D Minimis Vlus? Equl Intst Rts? D No. F No, 12% fo linqunt pymnts; mnufctuing popty o xcssiv ssssmnt of loclly tx popty t th vg nnul iscount intst t. A Ys. A 4 y vlution cycls (DOR Rul Ch. 9, 3) (nw uls povi fo 6 y cycl). Popty vlus must b upt nnully. D No. F No. Unpymnt is 18% p nnum (W.S ). Totl Totl F 11 C+ F 11 C+ 21

22 Stt Initil Appl Dlin(s) AL Within 30 ys fom th t on th notic of incs ssssmnt (Al. Co ). Difficult to tck whn notic snt. AK 20 ys fom th t th ssssmnt notic is mil fo oil & gs popty (AS ). 30 ys fom t ssssmnt notic is mil fo oth popty (AS ). AZ Popty own hs 60 ys to fil ptition fo viw with sssso ft notic mil (A.R.S ); within 20 ys ft t tht notic liv fo psonl popty (A.R.S ). Ptition my lso ppl ictly to th tx cout by 12/15 (o within 60 if ppl sssso s tmintion) (A.R.S ). AR No st numb of ys - notics fo psonl popty m by 7/31 n l popty by 7/11. Appl u by 3 Mony in August (ACA & ). Fo cntlly ssss popty txpy hs only 10 ys fom cipt of ssssmnt notic (ACA ). Fi Tx Appl Pocus Bun of Poof D On txpy fo initil ppl (ssssmnt pim fci coct); Inpnnt ppisl n xpt witnsss th nom (Al. Co 40-2A-7(b)). D On txpy (must pov unqul, xcssiv, impop o un vlution) (AS ; AS ); ppisls, xpt witnsss nomlly us (AS (); RAP 604()). C Txpy hs bun of poof to ovcom psumption tht vlution s ppov by th ppopit stt o county uthoity is psum to b coct n lwful -- must hv comptnt vinc to show th vlution is xcssiv (A.R.S (B)). Us of ppisls n xpt witnsss must b us in o fo ptition to pvil. D On txpy (cl n convincing vinc poving tht ssssmnt is unfi) (ACA ). D Novo Rviw on Subsqunt Appl? Ability To Escow O Ptil Py Disput Tx B Ys. Al. Co. 40-2A-9(g)(2). A Limit. Loclly ssss: At th tim of filing ppl py th txs u s fix fo ssssmnt fo th pcing tx y, filu to o so shll ismiss th ppl unlss th txpy hs xcut supss bon t th tim of filing th ppl (Al. Co ). Cntlly ssss: At tim of filing ppl py mount stt in finl o of Aministtiv Lw Jug, plus intst, o xcut supss bon (Al. Co 40-2A-9(g)(1)(b)). C nlly, ys. Municipl tx ppls bs on co; supio cout hs th pow to supplmnt th ministtiv co (incluing gnt til novo - ). Oil n gs ppls to supio cout nov.as C No, in gnl txs must b pi (AS ). C Ys. A.R.S A No, tx must b pi to ppl (A.R.S ). F Ys. A Disput mount of cntlly ssss popty is plc in scow. ACA (b). Appl pning in cout is pybl 30 ys ft finl isposition. ACA Totl Totl C 6 C+ F 11 D F 8 C B 8 C 22

23 Stt Initil Appl Dlin(s) CA In gnl, no st numb of ys, ppl is u by 9/15 (C.R.T.C. 80, 81, 1603); 11/30 if ssssmnt notic snt to txpy ft 8/1. Fo cntlly ssss popty th ppl is 20 ys fom th t th ssssmnt notic ws mil (C.R.T.C. 742; 18 CCR Rg. 5042). Appls fo supplmntl o scp ssssmnt must b fil within 60 ys of th t of th notic of ssss vlu chng. CO Rl popty notics must b mil by 5/1 n ppl fil by 6/1; Psonl popty notic mil by 6/15 n ppl must b postmk by 6/30 (o txpy cn pp in pson by 7/5). C.R.S CT Asssso fils gn list by 1/31 ch y, ppl u 2/20. C..S , DE Must giv t lst 10 ys notic of incs ssssmnt. Appl ts iffs by county (Knt: 4/1-4/15; Sussx: 2/15-3/1; Nw Cstl: 3/15-4/1). 9 Dl. Co DC Rl popty - 4/1 which is ppoximtly 30 ys fom th notic of ssssmnt; psonl popty - 30 ys fom issunc of notic of popos ssssmnt. D.C. Co (f-1) n (f-2). Fi Tx Appl Pocus (Continu) Bun of Poof D On th txpy, must pov by pponnc of th vinc tht th noll vlu is incoct (18 CCR Rg. 321). Shift to sssso if: (1) puchs pic not us (chng in ownship sttmnt must b fil), (2) pnlty ssssmnts n (3) som scp ssssmnts (C.R.T.C. 167; 18 CCR Rg. 321). D Novo Rviw on Subsqunt Appl? B No, xcpt fo stt ssss poptis. Loclly ssss popty is novo on qustions of lw, substntil vinc on qustions of fct; stt ssss popty is novo on lw n fcts. Ability To Escow O Ptil Py Disput Tx D No, pnlty n/o intst ttch if tx not pi on u ts. Rfuns issu if th ppl is in th txpy s fvo. D No sttwi uls of pctic o pocu fo hings (pocus vy wily mong th countis). Appl to Bo of Assssmnt Appls is on txpy to pov ssssmnt is incoct by pponnc of vinc. D Txpy hs th bun of poof thoughout th nti pocss n th txpy must ovcom th bun by pponnc of th vinc. C..S (). C Ys. C.R.S A No, funs issu. C.R.S (3); B Ys. Stmfo Aptmnts Co. v. City of Stnfo, 203 Conn. 586, 588 (Conn. 1987). A Ys, whn n ppl is pning th txpy must py t lst 75% of th txs u (if it is l stt ppl n th ssss vlu is gt thn $500,000 t lst 90% of th txs must b pi). C..S D Initil ppl - on txpy (must ovcom psumption tht ssssmnt is coct). If txpy psnts xpt ppisl tstimony th bun shifts to th txing uthoity). Appl to cout - must show tht bo ct conty to lw (bo consi pim fci coct). 9 Dl. Co C On txpy (pov ssssmnt is incoct o illgl) (OTR ssssmnt ssum coct); pponnc of th vinc. D.C. Co B No. 9 Dl. Co F Pymnt not qui to b m, but pnltis ccu t t of 1% p month. 9 Dl. Co B Rl popty - ys; psonl popty - no. D.C. Co D Rl popty - tx os not hv to b pi bfo ppl (D.C. Co (j)); psonl popty - tx, long with pnltis n intst, must b pi bfo ppl (D.C. Co ). Totl Totl F 11 D F 9 C C 6 C C 10 C- D 9 C Continus 23

24 Stt Initil Appl Dlin(s) FL 25 ys ft miling of notic of ssssmnt. FS (Th popty own cn qust n infoml confnc w/th ppis t ny tim.) A Appl to county bo of quliztion, hing offic, o to n bitto; must b fil w/45 ys fom miling of ssssmnt. O.C..A HI Assssmnt notic mil 3/15 (12/15 fo Honolulu), ppl u by 4/9 (1/15 in Honolulu). HRS ID Loclly ssss popty: Notic qui by fist Mony in Jun, ppl by th fouth Mony in Jun (I.C A). Cntlly ssss popty: no t is povi in sttut fo notic, but th gncy policy is to mtch th fist Mony in Jun, ppls must b fil by th 2n Mony in August (I.C n ). IL Vis by siz of county: Countis w/ popultion of 150,000 o lss = lt of 8/10 o 30 ys ft publiction of ssssmnt; countis w/ popultion 150,000--3M = lt of 9/10 o 30 ys fom publiction of ssssmnt. 35 I.L.C.S. 200/ IN Within 45 ys fom miling t of th wittn notic of ssssmnt o 5/10 of th tx billing y if notic is not snt (IN Co ()-()). Fi Tx Appl Pocus (Continu) Bun of Poof D Th pty inititing th chllng hs th bun of poof by pponnc of vinc. FS (2). B On county bo (pponnc of vinc). O.C..A D On txpy to psnt vinc tht ssssmnt is not coct. HRS In gnl, must show popty ssssmnt xcs 10% of th popty s mkt vlu. ROH C On txpy (pponnc of vinc) (I.C ). Appl to bo of tx ppls o istict cout - bun on pty sking ffimtiv lif to stblish tht th vlution fom which ppl is tkn is onous o tht bo of quliztion (I.C (4)). D Novo Rviw on Subsqunt Appl? Ability To Escow O Ptil Py Disput Tx A Cicuit Cout - Ys. FS (3). A Th is no quimnt fo th tx to b pi pio to filing ptition with th Vlu Ajustmnt Bo. Howv, t th cicuit cout th txpy must py th tx it gs it ows in goo fith. FS (3). A Supio cout - ys. A Somwht, must py mount of tx fo th lst y th txs w finlly tmin to b u. O.C..A D Ys. Kinki v. B. Of Rv. of City n Cty. Of Honolulu, 104 P (2004). A No quimnt tht txs b pi pio to ppl (s In R Tx Appl of Mil Sky Cout, 85 Hwi I 36, 936 P (2003)); but pnlty pplis if tx subsquntly foun to b ow on ppl. B Ys. I.C (). A No; filing ppl os not suspn obligtion to py. I.C (). Totl Totl A 3 A- C 3 A- C 8 C F 7 C C On txpy, pponnc of vinc if mkt vlu is bsis fo ppl. Cl n convincing vinc if lck of unifomity is th bsis of th ppl. At cicuit cout lvl txpy must psnt cl n convincing vinc. D Ys, ppls bfo th PTAB o un th tx objction pocing conuct novo. A No. 35 I.L.C.S. 200/23-5. F 9 C B On txpy, must povi pobtiv vinc tht povs o ispovs fct. Howv, if th ssss vlu incss mo thn 5% fom th pvious ssssmnt, th bun of poof is on th ssssing officil. A Stt Bo of Tx Rviw - ys; Tx Cout - no. C Ability to py l popty tx bs on pio y s ssssmnt. IN Co C 5 B- 24

25 Fi Tx Appl Pocus (Continu) Stt Initil Appl Dlin(s) IA Notic of incs must b m by 4/15, ppl fil fom 4/16 to 5/5 (isst s fom 5/25 to 6/5). I.C.A Cntlly ssss popty ppl lin is 30 ys ft notic of ssssmnt. KS Rl popty notic b m by 3/1, txpy hs 30 ys ft miling of vlution notic to ppl. Psonl popty notic must b m by 5/1, txpy must ppl by 5/15. K.S.A KY Rl popty hs no st notifiction t, must ppl 13 ys ft fist Mony in My. KRS Psonl popty must b ppl 45 ys fom notic of ssssmnt. K.R.S LA Public inspction fo 15 ys fom 8/15 to 9/15 (Olns 8/1 to 8/15), ppl must b fil 7 ys bfo hing t (wittn notic qui incs > 15% fom pio y). Public svic compny hs 30 ys to ppl to th Tx Commission. Bun of Poof D On txpy by pponnc of vinc; if comptnt vinc off by t lst two isintst witnsss, bun shifts to officils sking to uphol vlution. I.C.A (3). D Appis xpct to monstt coctnss of ssssmnt. K.S.A D On txpy; stn is stimt of fi csh vlu. F On txpy (impli). Th is no sttutoy ssumption of coctnss s to th ssssmnt. Bos chg with tmining th fi mkt vlu of th popty. ME In gnl, 185 ys. 36 M.R.S.A A On txpy to pov: (1) sssso s vlu ws itionl o so unsonbly ovvlu n injustic sults, (2) th ws unjust iscimintion, o (3) th ssssmnt ws fuulnt, ishonst o illgl. Cntl Min Pow Co. v. Town of Moscow, 649 A (ME Sup. J. Ct. 1994). Th bun is on th municiplity with supplmntl ssssmnt. MD 45 ys fom th notic of ssssmnt. M.D. Co Off y ptition fo viw lin is Dcmb 31st. C Supviso lvl - on txpy (infoml n must show tht ssssmnt ws incoct); popty tx ssssmnt bo lvl - on txpy (pov tht cision of Supviso ws wong). D Novo Rviw on Subsqunt Appl? A No nw issus cn b is, novo viw of vinc. PAAB cisions ppl to istict cout on juicil viw stn. A Limit on juicil ppl. K.S.A B KY BTA - ys, county cicuit cout - no (cn only ty to show fu o misconuct). B Limit, vinc is limit to tht psnt to th Bo of Rviw (n in som css infomtion psnt to th sssso). Cunt Tx Commission hs inict it will llow vinc not submitt to BOR. D novo viw s to qustions of lw. D Ys. D novo fo ppls to Stt Bo of Popty Tx Rviw. 36 M.R.S.A. 843(1-A). Supio Cout viw is limit (bus of isction, o of lw o finings not suppot by substntil vinc ). Ability To Escow O Ptil Py Disput Tx C Th tx cnnot b scow. Cout o PAAB cisions my sult in n justmnt in cunt txs owing o fun of txs pi in pst ys. C Not qui to py tx to potst, but must py un potst. County tsu hs isction to ccpt ptil pymnt (K.S.A ). B Ys, cn ptil py if on in goo fith (py on th vlu cl in ppl). Aft th BTA tmintion th tx must b pi o bon post. KSA C Ability to scow, txs timly pi n potst hl in scow (unisput txs ls to th tx cipint boy). R.S. 47: 1998(A)(2) n R.S. 47: 2110(E). B Ys, cn py lst y s tx o unisput tx in cunt y (whichv is gt). 36 M.R.S.A. 843(4). B Ys. M.D. Co A No, in gnl. Fo psonl popty cn submit bon. M.D. Co Totl Totl F 9 C D 8 C B 6 C+ B 8 C B 5 B- D 6 C+ Continus 25

26 Stt Initil Appl Dlin(s) MA Appl to locl ssssos must b m by pymnt t of fist tx bill (bills issu t lst 30 ys bfo u t). M..L.c MI Locl units qui to povi notic of ssssmnt not lss thn 10 ys bfo th Bo of Rviw mts. This t vis pning on txing juisiction (township/loclity). M.C.L MN Vlution notic must b snt to txpy two wks pio to t schul by locl bo. Appl notics must b postmk t lst 10 ys bfo th fist schul bo mting, locl bos my b m uing Apil n My. M.S.A Appl to Tx Cout/istict cout must b m by 4/30 of th y th txs bcom pybl. MSA MS No spcific notifiction povision (compltion of quliztion 10 ys bfo mting w/nwspp publiction). Must ppl bfo th August mting of bo of supvisos. M.C.A Bginning 7/1/10, ppls shoul b m to Dpt. of Rvnu. MO Phsing in notic of incs to txpy by 6/15; infoml confncs st in My n Jun. Thi Mony in July (postmk) is th lst y to ppl to Bo of Equliztion (St. Louis Scon Mony in July). RSM & Stt Tx Commission ppl u on o bfo 9/30. MT Lt of fist Mony in Jun o 30 ys ft ssssmnt notic. M.C.A Fi Tx Appl Pocus (Continu) Bun of Poof C On txpy (substntil vinc). M..L.c. 58A 12A. Assssmnt hs psumption of vliity. F Txpy must povi substntil vinc (mount of vinc tht sonbl pson woul ccpt s sufficint). Tx tibunl is still qui to mk its own inpnnt vlu tmintion. M.C.L F On txpy (pponnc of vinc). D Novo Rviw on Subsqunt Appl? C Ys. M..L.c. 58A 12A. Ultimt bun of poof mins on txpy. Ability To Escow O Ptil Py Disput Tx B Ys, llow to mk ptil pymnts. M..L.c , 64 n 65B. ATB cn lso xcus o xtn pymnt bs on inbility to py. B Ys. A No (subjct to wiv by tibunl). M.C.L B Tx Cout - ys. M.S.A , sub. 6. A Ys, ptil pymnt llow. Must py 80% (50% if unpi blnc <$2K) of tx (txpy cn ptition Tx Cout to llow no scon pymnt uing ppl if ctin conitions mt). M.S.A F On txpy n whn guing xcssiv ssssmnt must hv two o mo comptnt witnsss who tstify popty is ssss high thn its tu vlu. F Ys. M.C.A A No. Aitionlly, bon must b post fo gt of $100 o oubl mount of tx in isput. Miss. Co Ann D Bfo county bo of quliztion th is no psumption tht th sssso s vlution is coct. In som countis th sssso hs to pov th vlution os not xc tu mkt vlu. RSM A Ys. Stt Tx Commission cn viw novo. RMS B Unpi txs subjct to linqunt pnltis; howv, collcto scows th isput mount. C On txpy (pponnc of vinc). M.C.A B No. F No, txs must b pi in full by u t (isput txs cn b pi un potst). Totl Totl A 5 B- D 8 C A 5 C F 12 D B 5 B- F 11 D 26

27 Stt Initil Appl Dlin(s) NE Assssmnts with justmnts complt btwn 3/19-6/1; potsts fil on o bfo 6/30. Nb. Rv. St NV Notic of popty s ppisl must b mil no lt thn 12/18. NRS Potsts u by 1/15. N.R.S Th county bo of quliztion is suppos to complt its hings by th n of Fbuy. NRS NH Appl by 3/1; tx bills mil by 1/2. N.H. Rv. Stt. 76:16. NJ 4/1 o within 45 ys of th bulk miling of ssssmnt notics; 5/1 whn municipl wi vlution o ssssmnt o within 45 ys of th bulk miling of ssssmnt notics. N.J.S.A. 54:3-21. NM 5/1 o 30 ys ft miling of popty tx bill o notic of vlution (gnl businss n cntlly ssss). Dict ppl to istict cout within 60 ys ft pymnt of fist instllmnt of tx (1/9). N.M.S.A NY Notic must b povi t lst 10 ys pio to hing t. RPTL Sc Vis by juisiction. Fi Tx Appl Pocus (Continu) Bun of Poof C On txpy to show popty hs bn bitily o unlwfully ovvlu, bo s vlu ovul if bity o unsonbl. D On txpy (pponnc of vinc; substntil vinc) to show vlution unjust n inquitbl. N.R.S In juicil ppl fom th cision of th stt bo, th txpy hs th bun of showing by cl n stisfctoy vinc tht th vlution is unjust n inquitbl. N.R.S D Novo Rviw on Subsqunt Appl? Ability To Escow O Ptil Py Disput Tx D Ys. Nb. Rv. St A No, tx must b pi whn u. F 9 C C No, th ppl to th stt bo of quliztion is bs on th co m bfo th county bo. NRS F No scow n no ptil py (py un potst). Totl Totl F 13 F A On txpy (pponnc of vinc tht vlu is unfily ispopotiont). B On txpy (povi vinc tht is finit, positiv n ctin in qulity n quntity to ovcom th psumption of coctnss of ssssmnt). Coio of 15% bov o blow th common lvl ng within which th is no chng in ssssmnt. Coio is only pplicbl to ys in which th hs not bn vlution o ssssmnt. C On txpy to but psumption by showing tht sssso i not follow th sttutoy povisions of th Popty Tx Co o by psnting vinc tning to isput th fctul coctnss of th vlution. NMSA F On txpy, n to monstt n suppot clim vlu using ppisl n/o compbl sls infomtion. B Ys. RSA 71-B:11. A No (but pymnt not qui to ppl). D Ys, if initil ppl is to County Bo thn tx cout viw is novo. C No, ppls of ministtiv ppls m on th co psnt to n ministtiv viw bo. A No, cunt n bck txs must b pi. N.J.S.A. 54:3-27. F Ys. If timly potst n pys th mount not in contovsy, thn ny mining mount is not u until 30 ys ft conclusion of th ppl pocss. NMSA 1978, If fun fil, th contst mount must b plc by th county in n invstmnt ccount n hl in suspns until th conclusion of th mtt. D 4 B F 8 C A 8 C C Ys, novo. A No. F 10 C- Continus 27

28 Stt Initil Appl Dlin(s) NC 30 ys fom foml notifiction (typiclly t tx bill is pp); most countis o not issu foml ssssmnt notics - lin is bfo th jounmnt of th Bo of Equliztion (fist Mony in Apil to fist Mony in My). N.C..S.A ND A loclly ssss TP must ppl to th township quliztion bo on th scon Mony in Apil (N.D. Cnt. Co n ) o to th city quliztion bo on th scon Tusy in Apil (N.D. Cnt. Co n ). Th sssso must sn notic of incs ssssmnt to th TP not lss thn 15 ys bfo th locl bo mting, if th tu n full vlu hs incs by $3,000 n t lst 10% ov th pio y s ssssmnt (s gnlly N.D. Cnt. Co ). A notic of tnttiv ssssmnt is snt to cntlly ssss TP not lss thn 10 ys bfo th mting of th stt bo of quliztion on th fist Tusy in August (N.D. Cnt. Co ). OH Assssmnt notic snt vi fist billing (Dcmb to Fbuy). Rl popty ppl must b fil by 3/31 o th t of closing fo th collction of fist hlf txs, whichv is lt. RC Public utility psonl popty on o bfo th 60th y following th ssssmnt. OK 20 woking ys (xclus wkns) fom miling of notic of incs ssssmnt o fist Mony in My if ssssmnt hs not incs. 68 O.S OR Notics mil on o bfo 10/25. Appl pio fom sttmnt miling t to 12/31 fo Bo of Popty Tx Appls. ORS Fi Tx Appl Pocus (Continu) Bun of Poof D Th txpy hs th bun of poof thoughout th ppls pocss. F Th bun of poof t th initil ppl is on th txpy to show o. Th is no spcific stn. Stn of viw in th istict n supm cout is whth th bo of county commissions ct in n bity, cpicious, o unsonbl mnn. D Novo Rviw on Subsqunt Appl? C Ys. Th ppl fom th county bo of quliztion n viw to th popty tx commission is novo pocss. At PTC lvl, County s tmintion is psum to b coct. Howv, txpy hs th bun only of pouction, not psusion, to but County s psumption of coctnss. D No. D novo stn of ppl is not us t th subsqunt lvl of ppl. A On txpy, o complinnt if oth thn th txpy, to show ssssmnt onous. B Ys, howv, nw lgl issus my not b is. C On txpy (sssso psum coct); school bo lso hs ppl ights. 68 O.S E. B Ys, fo cntlly ssss txpys filing with th Cout of Tx Rviw. 68 O.S A On pty sking lif by pponnc of th vinc to show ssssmnt onous. O.R.S B Ys - Ogon Tx Cout. ORS (5). Ability To Escow O Ptil Py Disput Tx A Ys, no foc collction mis my b us by txing unit uing th ppl pocss. Txpy cn py mount thy bliv is ow bs on txpy s position. Howv, txpy ows pnlty n intst on th mining mount u. F Ys, whn txpy pys un potst th uncontst mount is uct n th min is posit in potst fun until th potst pio hs xpi. If th txpy pys lss thn th full mount u, pnlty ccus on th unpi blnc stting on th sttutoy t. S gnlly N.D. Cnt. Co D Ys. Txpy cn un py, howv pnltis & intst my pply. R.C & RC A Ys, isput tx is scow. Full mount of txs must still b un potst. 68 O.S A No; howv, pymnt of tx is not pquisit to ppl. S Totl Totl B 6 C+ B 12 D C 6 C+ B 4 B D 4 B 28

29 Fi Tx Appl Pocus (Continu) Stt Initil Appl Dlin(s) Bun of Poof PA Vis pning on county. F On txpy to show incoctnss of th vlution o sufficint comptnt, cibl n lvnt vinc to ovcom th ssssmnt s pim fci vliity. School bo lso hs ppl ights. 24 P.S RI Potst must b fil with locl offic of tx ssssmnt w/90 ys th fist tx pymnt is u (cnnot b wiv)..l SC Fo ppls w/ county sssso - within 90 ys of miling of ssssmnt, county uito - lt of within 30 ys of miling of ssssmnt o t tx pi w/o pnlty, vnu p t - within 90 ys of ssssmnt o within 90 ys of billing. Co SD Dpns. Assssmnt notics snt by 3/1. SDCL Fo juisictions w/locl bos, ppl t is by th Thusy pcing th 3 Mony in Mch. SDCL Txpy cn skip th locl bo n ppl to th County Bo by th fist Tusy in Apil. Juisictions w/consolit bos hv th sm Apil lin to ppl s th county bo. TN Assssmnts complt by 5/20; complints h stting 6/1 (notifiction my occu ly n th county bo of quliztion my xtn th numb of ys it hols hings bs on n). T.C.A n TP must fist ppl to county BoE n thn Stt B. Appl to Stt BoE must b m bfo 8/1 o within 45 ys fom cision of county BoE. T.C.A ; s lso T.C.A A On txpy (sufficint vinc to ovcom th psumption in fvo of tx sssso). B On txpy, ssssmnt psum ccut, must show inccut by pponnc of th vinc (th txpy must pouc vinc to suppot his sstion of vlu). C On txpy (ssssmnts m by county icto psum vli). Shton-Micontinnt Cop. v. County of Pnnington, 95 N.W (S.D. 1959); s lso Rosln v. Fulk County B. of E39:E43. D Novo Rviw on Subsqunt Appl? Ability To Escow O Ptil Py Disput Tx D Ys. 72 P.S. 5350(). A Ptil scow vilbl un potst. Pymnt qui whil ppl is pning. Totl Totl B 8 C C No. F No..L F 10 C- B Ys, bfo Amin. Lw Cout. A Ys. If n ppl xtns byon Dc. 31, th txpy must py potion of th isput tx qul to 80% of th ssssmnt bing ppl n my g in witing to py mo Co B Only novo t county bo lvl (til cout fo cntlly ssss popty). SDCL D On txpy. C Ys, xcpt fo cntlly ssss txpys. C No, txpy hs to py th txs un potst n thn fil fo fun. SDCL (Most of th popty tx ppls hnl wll bfo th txs hv to b pi.) C Ys, only qui to py unisput tx. T.C.A B 3 A- D 8 C A 9 C Continus 29

30 Stt Initil Appl Dlin(s) TX Notic civ by 5/1 n must potst by 6/1 o no lt thn 30 ys ft vlution notic civ (singl fmily sincs notic 4/1 n potst u by 5/1 o not lt thn 20 ys ft vlution notic is liv). Tx. Tx Co UT Psonl n cntlly ssss popty, 60 ys fom notic miling. Loclly ssss popty must b ppl within 45 ys fom th t th vlution notic is mil o by 9/15, whichv is lt. U.C.A Sctions & VT Lists m vilbl to public 5/5 (32 V.S.A. 4111) n must sst givnc t lists mting hl on o bfo 5/20 (32 V.S.A. 4221). VA 134 ssssing uthoitis with iffnt lins; t lst 30 ys ft th lin st by th ssssing offic. V. Co Ann of Co of Vigini povis tht notic of n ssssmnt incs must b mil t lst 15 ys pio to th t of hing to potst th chng. WA Fo l o psonl popty, ys pning on county. R.C.W Cntlly ssss txpys initil ppl lin is th lt of 7/1 o 30 ys ft miling of chng of vlu notic. WV In gnl, txpys o not civ notic of th ssss vlus of thi poptis. Th two xcptions tht qui 15 ys notic: 1) ssss vlu of l popty incss by mo thn 10% o 2) ov $1,000 incs (bos bgin to mt by 2/1). Public utility opting popty txpys potst thi vlus to th Bo of Public Woks uing Octob. Fi Tx Appl Pocus (Continu) Bun of Poof C Bun of poof is on th ppisl istict by pponnc of th vinc. Tx. Tx Co D Novo Rviw on Subsqunt Appl? A Ys; howv, txpy my b pvnt fom ising nw lgl issus. Ability To Escow O Ptil Py Disput Tx B Ys, my py only unisput mount (uncommon fo txpys to o so). Tx. Tx Co Totl Totl A 3 A- B On txpy to stblish tht vlu is onous, n, by cibl vinc, tht vlu sst by txpy is tu fi mkt vlu. C Ys, if th cision by th Uth Tx Commission is ppl to istict cout. A No, txpy must py full mount of tx libility. F 7 C F Initilly on txpy (pofssionl ppis is ssntil to but psumption tht municiplity s ppisl is vli). 12 V.S.A F On txpy. Aft 10/1/2010, txpy must pouc substntil vinc tht popty is mo thn fi mkt vlu, ssssmnt is not unifom in ppliction o is not quliz. V. Co Ann & /2012 chng is to pponnc of vinc (SB 1350). C On txpy (cl, cognt n convincing vinc; bun cn b uc to m pponnc of th vinc un ctin cicumstncs). R.C.W F On txpy to show onous ssssmnt by pponnc of th vinc. C Ys. 32 V.S.A A No F 10 C- B Ys. A Pymnt pctics vy, no sttutoy uls fo loclitis to qui pymnt s pquisit to ppl. V. Co Ann D D novo, but bun of poof mins th sm. Stt bo of tx ppls hs ppls fom county bos of quliztion novo. Appl fom foml bo of tx ppl cision is not novo. Tx fun ction in cout is novo. B Appls fom os of bos of quliztion n viw on th co m bfo th bo. Appls of public utility ssssmnts novo in cicuit cout. A No; howv, sssso fo vy lg vlu ppls must xclu contst vlu whn computing tx ts. S RCW D 8 C F 9 C D No. F 12 D 30

31 Stt Initil Appl Dlin(s) WI 60 ys fo mnufctuing popty. Loclly ssss popty quis intnt to objct 15 ys fom notic (fist clss citis only, n ft notic of tmintion of Bo of Assssos). All oths must giv wittn o ol notic t lst 48 hous pio to Bo of Rviw s fist mting, n fil notic of objction bfo o within th fist two hous of th bo s fist schul mting. WY Loclly Assss: Asssso s offic w/30 ys of th notic miling. W.S (b). Stt-ssss popty, must fil potst with Dptmnt of Rvnu/Stt Bo of Equliztion within 30 ys of notic miling. Fi Tx Appl Pocus (Continu) Bun of Poof F On txpy to illustt tht sssso s vlution is onous. Wis. Stt. Sc (8)(i). C On txpy (pponnc of vinc). D Novo Rviw on Subsqunt Appl? B Dpns, typiclly css h by th Bo of Rviw o th Wisconsin Tx Appls Commission ppl bs on th co ct; un spcific ppl pocus to th municipl govning boy, th cs cn b h novo t th subsqunt ppl to cicuit cout. City of Milwuk s bility to opt out of novo viw ul unconstitutionl. B Ys - locl cision ppl to th Stt Bo is novo. Subsqunt ppl is on th co on th finings of fct fom th low cout o hing boy. Ability To Escow O Ptil Py Disput Tx D No, tx must b pi. S gnlly Wis. Stt A Ys, potst tx is plc in intst bing scow ccount. W.S (f). Totl Totl F 12 D B 4 B Continus 31

32 Rsintil v. Businss Popty Stt Assssmnt Rtios AL Fou clsss of popty with iffnt pcntgs of fi n sonbl vlu: utility - 30%; clss II ctchll (incluing nl Businss) - 20%; gicultul/ sintil/fost/histoic - 10%; pivtly own utos n tucks - 15%. Co AK 100% of full tu vlu (gnlly). AS & AS Tx Assssmnt Cps (p y) D Popty txs cpp t pcntg of FMV bs on popty clss. Clss 1-2% of FMV, Clss 2-1.5% of FMV, Clss 3-1% of FMV, n Clss % of FMV. Constitution of Albm, Amnmnt 373. Equl Popty Tx Bun D Stt potion of popty tx - $40k of full mkt vlu p homown un 65. County potion of popty tx - $20k o $40k of mkt vlu (locl option) p homown un g 65. Full xmption fom stt popty tx fo snios 65 n ov n pmnntly n totlly isbl. Ptil xmption (county n school isticts) - $50k in mkt vlu if homown is ov 65 w/ nnul just goss incom lss thn $12k s flct on most cnt stt incom tx tun o pmnntly o totlly isbl, glss of g, o who blin. Co Sc Full xmption fom txtion: homown who is totlly isbl o who is 65 o ol hving n nnul txbl incom of $7,500 o lss s shown on homown n thi spous s fl incom tx tun. Co Sc MTA Rtio = 2.11 (16). B No. A $150k of full mkt vlu fo snios n isbl. MTA Rtio = 1.11 (34). AZ 9 clsss of popty (pcntg of Full Csh Vlu); Clss 1: Most businss popty: 22% , 21% , 20% & thft; Clss 2: Ag popty, golf couss n vcnt ln: 16%; Clss 3: Own occupi sintil: 10%; Clss 4: Rntl sintil: 10%; Clss 5: Rilo n ilin flight popty: 20%; Clss 6: Noncommcil histoic, foign t zon, ntpis zon, mility us zon, nvionmntl tchnology n nvionmntl mition: 5%; Clss 7: Histoic commcil & inustil: 1%; Clss 8: Rsintil ntl histoic: 1%; n Clss 9: Possssoy Intst: 1%. A.R.S F All popty, gt of 10% o 25% of iffnc btwn lst y s pimy vlu n cunt y s scony vlu. No limits on scony vlus, funs us fo bon issus, bugt ovis n spcil isticts. Aitionl limit fo own-occupi sincs. Th combin pimy tx fom ll juisictions on such popty my not xc 1% of th pimy vlu. In th cs wh th tx xcs tht mount, school istict txs uc on th pimy mount n th stt povis th iffnc btwn th ovll pimy tx t n th t cp. AR 20% of tu n full mkt vlu. A Rsintil popty is 5% p y; ll oth popty is 10% p y - fozn fo popty owns ov 65 o isbl. C Vying mounts to som isbl psons n to som wiows/wiows. Th mounts scl to th vlu of popty own n ligibility is stict by incom. WWI n isbl vtns who nt th svic fom AZ o who w sints of th stt pio to 9/1/45 ligibl fo n xmption. Popty tx fls lso povi to qulifi homowns ov th g of 69. AZ Constitution llows sints 65 o ol, with nnul incoms blow stblish thshols, to pply to th county sssso to fz th full csh vlu of thi pimy sinc fo up to 3 ys. MTA Rtio = 3.32 (5). C $350 tx cit fo pimy sinc. MTA Rtio = 1.22 (32) CA 100% of full fi mkt vlu ( 4% ssssmnt tio fo ctin fishing vssls). C.R.T.C CO 29% of ctul vlu fo ll popty xcpt sintil l popty. Rsintil popty is tmin nnully by stt lgisltu (cuntly 7.96%). CRS A Unlss th is chng in ownship o substntil constuction, ll loclly ssss popty limit to lss of 2% o infltion mount p y. F Rsintil popty ssssmnts limit to 45% of stt totl (gggt ssssmnt stuctu) p y. D $7,000 of full mkt vlu fo homst. If qulifi, th is isbl vtn s xcption tht chngs nnully (fo 2009 it ws $114,634 o $171,952 fo low incom homsts). MTA Rtio = 1.02 (40). D Snios n isbl vtns civ 50% bk on fist $200k of pimy sinc. CRS Sc MTA Rtio = (4). Totl Totl F 10 D C 3 B D 9 D B 3 B B 4 B- C 9 D 32

33 Rsintil v. Businss Popty (Continu) Stt Assssmnt Rtios CT In gnl, 70% of tu n ctul vlu (fi mkt vlu) fo ll l n psonl popty. City of Htfo ts cn vy - s Tx Assssmnt Cps Column..C.S DE Vis by county by pcntg of tu csh vlu; Knt: 60%; Sussx: 50%; n Nw Cstl: 100%. All popty tx t sm t; som countis n citis povi btmnts n incntivs. 9 Dl. Co 801. DC 100% of mkt vlu of th popty (l popty is stimt mkt vlu n psonl popty is cunt vlu bs on cost lss pcition). Howv, tx t vis bs on sintil ($0.85/$100) vsus businss popty ($1.85/$100). D.C. Co n FL 100% of just vlution which is fi mkt vlu. FS A 40% of fi mkt vlu (with som xcptions fo ctin gicultul popty). O.C..A HI 100% of fi mkt vlu; howv, th tx t cn vy significntly bs on th popty s clssifiction. Tx Assssmnt Cps (p y) C No, xcpt City of Htfo is llow to vit n us iffnt ssssmnt ts fo iffnt typs of popty to limit nnul gowth o popty txs on sintil n ptmnt poptis. Sction 2 of Public Act No Equl Popty Tx Bun C Abtmnt pogm if tx xcs 8% of txpy s incom. MTA Rtio = 1.00 (41). F No. A Exmption fo snios n isbl of up to $25,000 of n ssssmnt if ctin sincy n incom thshol quimnts mt. MTA Rtio = 1.00 (41). D Rsintil popty cp of 10% p y (5% fo qulifying low incom). A Rsintil popty (psonl sinc) - lss of 3% o infltion mount p y. 10% nnul cp on ll oth poptis unlss nw constuction o sl. Chng of ownship n ctin chngs, itions o impovmnts hv n impct on this limittion. S n Floi sttuts. $500k potbility within Floi of sintil vlution cp. B Lgisltion opt in 2009 (Act 233, Lws 2009) plc motoium on ssssmnt incss with limit xcptions though Jnuy, 2011 (css still llow). D Limit n vis by county (.g., Kui County llows 6% cp on tx incs on ctin lss). F $67,500 uction fo homsts (just nnully by cost of living) n 50% uction fo snios. DC Co MTA Rtio = (10). D Homst xmption of $25,000 of ssss vlu fo ll popty txs plus n itionl $25,000 fo nonschool istict txs Floi sttuts. Th itionl xmptions vilbl to ctin homowns (.g., wiows/wiows, isbl sints, vtns, n snios. MTA Rtio = 1.37 (24). C $5,000 of full mkt vlu. Th itionl incom justmnts n misc. locl homst incntivs. MTA Rtio = (30). C In gnl, $12k of full mkt vlu ($40,000 in Honolulu); $24k fo y-ols; n $30,000 fo 70+ y-ols. MTA Rtio = 3.83 (3). ID 100% of mkt vlu, I.C. Sc A No. A Lss of 50% of full mkt vlu of hom o mximum xmption mount of $101,153 (2010 mount, subjct to nnul justmnt). I.CC MTA Rtio = 1.85 (19). IL Cook County (Chicgo) hs vibl ssssmnt tios; 33.5% of fi csh vlu fo ll oth countis. 35 ILCS 200/ D In th pocss of phsing out cps on sintil popty. C Unlss th xpn homst xmption hs bn opt in liu of th gnl xmption, $6,000. Aitionl xmptions vilbl to vtns (35 ILCS 200/15-165); Snios (35 ILCS 200/15-170); Snio Fz Exmption; Rtuning Vtns Homst Exmption (35 ILCS 200/15-267) n th Long-tim Occupnt Homst Exmption (35 ILCS 200/15-177). MTA Rtio = 1.95 (17). Totl Totl A 4 B- A 4 B- F 11 F C 5 C C 5 C F 9 D D 3 B D 8 D Continus 33

34 Rsintil v. Businss Popty (Continu) Stt Assssmnt Rtios IN 100% of tu tx vlu ( tu tx vlu os not ncssily mn FMV). I.C Rl Popty Assssmnt mnul vlus most l popty bs on vlu-in-us. IA Vis (ll txs loclly minist); sintil n commcil popty quliz w/min ssssmnt to sl pic tios (gol of 100% tio Jnuy 1 of th quliz y). Iow Co KS Diffnt pcntgs of fi mkt vlu. Rl popty clsss: sintil %; gicultul - 30%; vcnt lots - 12%; nonpofit - 12%; public utility - 33%; commcil n inustil - 25%; oth l popty - 30%. Psonl popty clsss: mobil hom sincs %; minl lshol intsts - 30%; public utility - 33%; moto vhicls - 30%; commcil n inustil mchiny - 25%; oth - 30%. K.S.A Tx Assssmnt Cps (p y) B Unqul cit povi fo tx libility incss. Six ctgois of popty clss nging fom 1.5% to 3.5%. Nonsintil l popty is 3.5% in 09 n 3% in I.C D Rsintil, gicultul popty, commcil n ilos limit to 4% p y; cntlly ssss popty is limit to 8% p y. Rplcmnt tx compnis hv thshol justmnt of ith 8% o 10% p y. Equl Popty Tx Bun D Homst cit pl Jn. 1, 2009; howv, th mny uctions (s htm). MTA Rtio = 2.52 (8). F Bo cit tht th stt cuntly funs bout 69% bs on th ctul lvy of th llowbl homst vlu. Th is lso n incom bs cicuit bk fo snio citizns n th isbl. MTA Rtio = 2.35 (11). F No. A Tx fun povision (bs on incom lvls) fo lowincom fmilis (<$27,600), snios (55+), n isbl if popty s vlu is lss thn $350k. MTA Rtio = 2.14 (13). KY 100% of fi csh vlu A No. A Ys, fo 2009 n 2010 $33,700 fo snios n isbl. LA Diffnt pcntgs: ln - 10%; sintil impovmnts - 10%; lctic coops (not ln) - 15%; public svic poptis (not ln) - 25%; oth poptis - 15%. L. R.S. 47:1854. ME Assssos opt own tios of just vlu (cunt mkt vlu). Minimum vlu fin s 70% n mximum vlu fin s 110%. MD Rl popty - 100% of its phs-in vlu (TP 8-103); psonl popty - 100% of its vlu on th t of finlity (TP 8-107), xcpt invntoy, which is ssss t its fi vg vlu (monthly vg). MA 100% fi csh vlu, M..L.c Howv, municiplitis cn shift, with limits, som tx lvis to businss scto (commcil n inustil). MI 50% of tu csh vlu fo ll poptis. Mich. Const. t. IX, 3. F In gnl no; howv, tx cipint boy cn spcificlly ppov cp. Txs in th y subsqunt to th vlution cycl cnnot xc th pvious y s collctions if th incs tx is th sult of n incs in vlu s sult of th vlution. C Bo $75K of full mkt vlu xmption fo qulifying sincs; spcil ssssmnt lvls fo spcifi clsss of iniviuls. MTA Rtio = 2.54 (7). D No. A Rcntly uc to $10K of just vlu of hom. MTA Rtio = 1.07 (38). A 10% fo stt popty txs on sintil popty; locl options fo locl txs ng fom 0% to 10% p y. F Cps o not pply to iniviul poptis; howv, Poposition 2 1/2 limits nnul incs in totl lvy of municiplity. (M..L.c C). B Txbl vlu my not b incs by th lss of 5% o infltion, p y, until th popty is sol. D Cit (qul to th totl tx of wlling, with mx ssssmnt of $300k) bs on incom of homown; cit not gnt to homowns with nt woth ov $200,000. MTA Rtio = 0.96 (52). A Optionl locl homst xmption of up to 20% of clss 1 sintil ssssmnt vlu (30% in som citis), but bon by oth sintil txpys; itionl ptil xmptions fo snios, vtns, blin, suviving spouss n chiln. MTA Rtio = 4.21 (2). D Low-incom, isbl, n snios xmpt fom 18 mill tx lvi by locl school isticts. Pincipl sinc xmpt fom locl school istict txs lvi fo school opting puposs. MTA Rtio = (26). Totl Totl D 7 D D 10 D D 7 D B 1 A D 9 D B 4 B- A 3 B F 8 D C 6 C- 34

35 Rsintil v. Businss Popty (Continu) Stt Assssmnt Rtios MN Popty is vlu t 100% of its mkt vlu n clss t is ssign to th popty ccoing to its us. Th 5 bsic popty-typ clssifictions tht bokn own into oughly 35 subclsss of popty; som of which hv yt futh subclsss. Rsintil popty clss 1 is 1% on th fist $500k of vlu n 1.25% on ny itionl vlu; commcil popty clss 3 is 1.5% on fist $150K of vlu n 2% on ny itionl vlu. MN sttuts MS Diffnt pcntgs of tu vlu bs on popty clssifiction: homsts - 10%; oth l popty - 15%; psonl popty - 15%; public utility popty - 30%; n moto vhicls -30%. MO Diffnt pcntgs of tu vlu in mony : l commcil popty - 32%; psonl popty /3%; sintil popty - 19%; gicultu popty - 12%; histoic moto vhicls n icft 5%; n pollution contol n tooling quipmnt in n ntpis zon 25%. RSmo MT Diffnt pcntgs of Fi Mkt Vlu bs on 14 clsss of popty (ts cn vy by y). Col mins - 100%; mtl mins - 3%; sintil % (2009); cntlly ssss utilitis - 6% (2009). MCA t l. NE Rl popty - 100% ctul vlu; gicultul popty - 75% ctul vlu; psonl popty - 100% nt book vlu. R.R.S.N NV 35% ssssmnt tio pplis to ll txbl popty. NRS Tx Assssmnt Cps (p y) Equl Popty Tx Bun F No, limit mkt vlu ws mov in A Rsintil Homst Mkt Vlu Cit povis cit of up to $304 t mkt vlu of $76,000, phsing out to $0 t $413,800. Agicultul homsts lso civ homst cit n uc clss t of.5% on th fist $1,010,000 of fmln vlu. Th lso spcil povisions fo th blin n isbl. MTA Rtio = 2.51 (9). F No. A $75,000 of full mkt vlu fo fmilis n his limit to $300. Qulifying snios xmpt fom ll vlom txs on homsts up to $75,000 of tu vlu. MTA Rtio = 1.77 (20). F No. A Snio citizns n isbl psons w/limit incoms cn civ n incom tx cit o cn civ popty tx cit. MTA Rtio = 2.13(14). F Phs-in of ssssmnt of vlu is ov 6 ys, 16.66% p y. C In 2009, ll sintil popty civ 36.8% uction in mkt vlu; itionl pogms xist fo low incom txpys. MTA Rtio = 1.26 (28). B No. A nl xmption is th lss of th homst vlu o th vg ssss vlu in county (o $40K, whichv is gt). Incs fo isbl n snios. MTA Rtio = 1.00 (41). B Rsintil popty (psonl sinc) hs 3% cp on tx bill incs p y; iffnt cp clcultion fo oth popty not to xc n 8% cp. NRS t sq. D Non; howv th is n xmption fo foc sl - NRS MTA Rtio =.991 (50). NH 100% of mkt vlu. RSA 75:1. A No. A Exmption fo ctin snios n isbl psons. ( RSA 72:38-b n 72:39-b). MTA Rtio = 1.00 (41). NJ NJ Supm Cout hs ul it is unconstitutionl to tx iffnt typs of popty t iffnt pcntgs of vlu. Although th sttwi stn is 100% of tu vlu, th is still lck of ssssmnt unifomity. S Fo Moto Co. v. Township of Eison, 127 N.J. 290 (1992).) D No cps fo ssssmnts. Howv, th cps fo incs of mount is by th popty tx with numous xcptions llowing som nnul tx t incss by s much s 10%. Unifomity clus in NJ so ll popty tt th sm. B Th spcil povisions fo ctin snios n isbl citizns. MTA Rtio = 1.00 (41). Totl Totl D 7 D C 6 C- D 7 D C 8 D A 1 A A 4 B- A 0 A A 4 B- Continus 35

36 Rsintil v. Businss Popty (Continu) Stt Assssmnt Rtios NM 33 1/3% of ssss vlu, pplis to ll l n psonl popty; howv, vlution mthoology cn vy pning on popty typ. (NMSA 7-36, & 7-39). NY Vis by locl juisiction (s pcntg of full vlu). RPL Tx Assssmnt Cps (p y) B Rsintil popty is cpp t 3% p y. Rmovl of th cp upon sl of th popty to nw own ws ul unconstitutionl un th Nw Mxico Constitution by t lst two istict couts in 2009; unctinty with how this cp will b minist in th futu. F Sttwi no; NYC n Nssu County cp Clss 1 sintil popty incss by no mo thn 6% in ny on y n 20% in ny 5 y pio. Equl Popty Tx Bun F Th Popty Tx Co contins Fctionl Intst Vlution NMSA , Cunt n Coct Vlution mnts NMSA , (H of Fmily Houshol NMSA , Limittion on Incss in Vlu Occupi by Low Incom Owns 65 Ys o Ol o Disbl NMSA , Vtn NMSA , Disbl Vtn NMSA , Vtns Ogniztion NMSA , xmptions, Limittions on Tx Rts Authoiz NMSA n Yil Contol NMSA sttuts to ncoug qul popty tx buns coss th stt. MTA Rtio = 1.20 (33). D Spcil stt-fun School Tx Rlif (STAR) xmption povi to homowns, w/ lg mount fo incom-ligibl snios. Aitionl locl option xmptions vilbl fo ctin psons (snios, isbl, vtns); ptil xmption fo fist tim homowns (50% of ssss vlu in fist y n phs out 10% in ch subsqunt y). MTA Rtio NYC = 6.50 (1), MTA Rtio = 1.64 (21). NC 100% of tu vlu in mony. N.C..S A No. A Exmptions fo isbl vtns n low incom snios n isbl; s ownlos/v9_2010.pf. MTA Rtio = 1.00 (41). ND Assss vlu is 50% of tu n full vlu. Txbl vlu is pcntg of ssss vlu: sintil popty - 9%; gicultul popty - 10%; commcil popty - 10%; cntlly ssss popty - 10% (xcpt win tubin gntos 3% o 1.5% of ssss vlu). OH All l popty - 35% of tu (mkt) vlu. Psonl popty of ctin utilitis vis: tlcoms - 5% fo 2010 (not ssss thft); lctic compnis - 85% fo tns n ist, n 24% fo ll oth psonl popty; ul lctic - 50% fo tns n ist, n 25% on ll oth psonl popty; ntul gs istibution - 25%; piplin/wt/hting compnis - 88%; wt tnspottion - 25%. OK Bs on fi csh vlu. Cntlly ssss popty %; psonl popty - fom 10% to 15%; l popty fom 11% to 13.5%. C No. A Ctin snios n isbl psons ligibl fo uction in th vlu of thi homst up to mximum tu n full vlu of $100k. Th xmption pcntg is bs on incom n mximum uction. MTA Rtio = 1.09 (35). F No. A Fist $25k of txbl vlu of homsts own n occupi by lly o isbl n thi suviving spouss is xmpt. 12.5% ollbck fo pimy sinc. Pi fo by stt gnl vnu fun. MTA Rtio = 1.26 (27). F 5% cp on loclly ssss l popty p y unlss chng in ownship, tc. C Exmptions fo snios n low-incom txpys. MTA Rtio = 1.07 (37). OR 100% of mkt vlu fo ll popty. A 3% cp in ssss vlu incs p y. O.R.S C Ctin xmptions fo vtns n oths. MTA Rtio = 1.00 (41). Totl Totl B 6 C- D 10 D A 0 A B 3 B C 6 C- B 7 D A 2 B+ 36

37 Rsintil v. Businss Popty (Continu) Stt Assssmnt Rtios PA Using ctul vlu, common lvl ssssmnt tios fo ch county st nnully by Stt Tx Equliztion Bo. All l popty ntitl to unifom tx ttmnt. Juisictions hv sttutoy ight to vit fom stt mnt common lvl tio by 15%+/-. RI Vis by municiplity - but cnnot xc 100% of full n fi csh vlu. R.I. n. Lws SC Svl iffnt tios using fi mkt vlu: mnufctuing n utility popty %; pimy sinc - 4%; oth thn pimy sincs - 6%; non-clssifi commcil popty - 6%; businss psonl popty 10.5%. SD Locl Dicto of Equliztion is qui to vlu ll popty btwn 85% - 100% of its tu n full vlu (SDCL ). Th Dpt. of Rv. viws th ssssmnts in ch county n fctos ll of th vlus own to 85%. Locl govnmnts cn low th pcntg of vlu fo ctin nw constuction pojcts n impovmnts fo pio of up to 5 ys. TN Rl popty: 4 clsss bs on ppis vlu - utility - 55%; inustil/commcil -40%; sintil - 25%; n fm - 25%. Psonl popty: 3 clsss bs on ppis vlu - utility - 55%; inustil n commcil - 30%; oth - 5%; nonbusinss - not tx. Intngibl popty - 55% of ppis vlu fo utilitis, 30% fo ll oths. Tx Assssmnt Cps (p y) Equl Popty Tx Bun D No. A Vis by county, homst xmption of up to 50% of min ssss vlu; itionl bts fo snios. MTA Rtio = 1.57 (23). F No. A Vis by loclity (ng of 15%-50%); itionl ssistnc fo snios n low-incom txpys. MTA Rtio = 2.13 (15). F Cp fo homst popty - 15% mximum incs ov 5 ys but homst is xmpt fom school opting costs. This cp lso pplis to businss popty xcpt fo utilitis vlu using th unit vlution mtho. C No. Howv, th is cp on th mount of popty txs tht cn b collct by ch txing ntity. This pocss bnfits ll typs of popty qully. D $50,000 FMV xmption fo ctin snios, vtns, isbl. All pimy sincs xmpt fom popty txs impos fo school opting puposs. MTA Rtio = 3.20 (6). A Homst xmption tht fo txs pybl in 2010 uc popty txs bout $500 fo vy $100k of txbl vlution. SDCL Oth xmptions fo ctin snios n isbl txpys. SDCL , SDCL , SDCL , SDCL chpt 10-6A, SDCL though , n SDCL chpt 10-18A. MTA Rtio = 1.28 (25). F No. A Tx lif fo low-incom snios, isbl, n vtns. MTA Rtio = 1.60 (22). TX All popty is ssss t mkt vlu. A Rsintil popty limit to 10% p y fom lst ppisl. UT Pimy sincs ssss t 55% of fi mkt vlu; ll oth popty is t 100% FMV. VT Stt lw os not povi fo iffnt ssssmnt tios o tx ts. 32 V.S.A. 3481, 3482, 3651, 4041, & VA 100% of fi mkt vlu. Howv, tx t on psonl popty oftn high thn oth popty. V. Co F Homsts hv $3k xmption fom county txs n $15k xmption fom school txs. Aitionl optionl xmptions by txing istict. MTA Rtio = 1.23 (29). D No. A Accomplish though tio lif, snios with low incom povi noth 20% uction in th ssssmnt t. MTA Rtio = 1.85 (18). A No. A Bo homst xmptions. Incom bs popty tx lif. MTA Rtio = 1.23 (31). C No. A Exmptions fo ctin isbl n snios. MTA Rtio = 0.96 (51). Totl Totl D 6 C- D 7 D F 11 F C 4 B- C 6 C- C 6 C- C 5 C C 2 B+ A 2 B+ Continus 37

38 Stt Assssmnt Rtios WA 100% of fi mkt vlu; howv sttuts povi tht cntlly ssss vlus quliz to th gnl lvls of ssssmnt (usully lss thn 100%) in th countis wh thy tx. RCW WV Most popty ssss t 60% of cunt fi mkt vlu. W. V. Co 11-1C-1(). High tx t impos on commcil n inustil popty. WI Vis by municiplity - sm tios us fo both l n psonl popty. Howv, pning on tim pio btwn lst vlution, iffnt clsss cn hv iffnt tios. Two clsss, unvlop clss n gicultul fost, vlu t 50% of thi mkt vlu. Wis. Stt (5)() & 70.32(4). WY nlly 9.5% of Fi Mkt Vlu; inustil popty t 11.5% of FMV; n minls n mins t 100% of FMV. W.S (). Rsintil v. Businss Popty (Continu) Tx Assssmnt Cps (p y) Equl Popty Tx Bun B No. A Tx uction fo snios, isbl citizns n lowincom txpys. MTA Rtio = 1.00 (41). D No. A Exmptions fo low-incom snios n isbl. Aitionl xmption bs on incom is fun by th Stt. MTA Rtio = 2.18 (12). D No. Th limits on tx lvis tht pply coss popty clsss. A Th is homst cit ginst incom txs fo popty txs on pimy sinc w/incom blow ctin lvl. MTA Rtio = 1.03 (39). D No. A Th popty tx xmptions fo vtns n, whn fun by th lgisltu, th is homown s tx cit fo homs vlu blow full vlu of $61,580. MTA Rtio = 1.00 (41). Totl Totl A 1 A D 6 C- A 3 B A 3 B 38

39 nl Infomtion n Oth Issus Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus AL Loclly ssss: nl businss; Cntlly ssss: utilitis, som gnl businss popty. Co Sc Rl popty, psonl popty, n spcifi intngibl popty (ctin bons n ho mony). Co /1 fo l n psonl popty. Al. Co Sc Loclly ssss: Bo of Equliztion (Co Sc ). Cntlly ssss: Albm DOR (co Sc. 40-2A). Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 1 AK Loclly ssss: nl businss; Cntlly ssss: oil n gs. Rl n psonl popty. 1/1 Loclly ssss: Bo of Equliztion. Cntlly ssss: Alsk DOR. Intngibl popty is not consi popty; issu w/ls popty - lsso tx unlss lsso is fl gov t (lss tx). 1 AZ Loclly ssss: nl businss; Cntlly ssss: mining, oil n gs, utilitis, piplins, ilins, ilos, tlcom. Rl n psonl popty. 1/1 Loclly ssss: County Bo of Equliztion o Stt Bo of Equliztion (if no county bo). Cntlly ssss: AZ DOR. 0 AR Loclly ssss: nl businss; Cntlly ssss: public utility n ci popty. Rl n psonl popty. 1/1 Loclly ssss: County Bo of Equliztion. Cntlly ssss: w/stt gncy (PCS o Highwy Dpt.). Intngibls not spcificlly xmpt fo cntlly ssss txpys. 1 CA Loclly ssss: nl businss; Cntlly ssss: piplins loct in two o mo countis n lctic, tlphon, n ilo popty. Rl n psonl popty (psonl popty of gist insunc compny o finncil institution not txbl). In gnl, 1/1. Spcil uls fo chng of ownship n nw constuction. Loclly ssss: County Clk of th Bo of Supvisos. Cntlly ssss: CA Stt Bo of Equliztion. Initil solution of vlu subjct to subsqunt viw/vlution. Stniz pocus not lwys follow by th ssssos. 2 CO Loclly ssss: nl businss; Cntlly ssss: public utilitis opting popty. Rl n psonl popty. 1/1 Loclly ssss: initilly to county sssso thn to county bo of quliztion. Cntlly ssss: Bo of Assssmnt Appls o Dnv istict cout. Rfuns on PP my b givn ch y if stt s vnus uing y xc limit on stt vnu in Coloo Constitution (100% fun on fist $700 of PP tx, 16% on xcss PP tx). Intngibls not spcificlly xmpt fo cntlly ssss txpys. 2 CT Loclly ssss: All popty tx t th locl lvl; ctin tlcommuniction povis subjct to spcil tx. All l n psonl popty is txbl, xmption fo ctin mnufctuing n mchiny quipmnt. 10/1 Bo of Assssmnt Appls No cl istinction btwn l n psonl popty. Tx sssso hs uthoity to incs o cs ssssmnt upon uit of PP tx tun (not limit to omitt popty; cn just ssssmnt of pviously list popty). 1 DE Loclly ssss: nl businss (ll popty loclly ssss). Rl popty (psonl popty xmpt). No spcific stt-wi t. Whil ssss nnully, t vis by county n municiplity. County Bo of Assssmnts. Fo ls popty, tnnt is sponsibl fo popty tx (must py it to pson ntitl to nt, unlss oth gmnt xists). Tnnt cn uct sm mount out of nt. No st vlution t. 1 DC Loclly ssss: nl businss n sintil (only on txing boy). Rl n psonl popty. 1/1 (l popty); 7/1 (psonl popty). DC Offic of Tx n Rvnu (l popty); DC Offic of Amin. Hings o Supio Cout (psonl popty). Vcnt poptis tx t t of $5/$100 (with xcptions); pymnt of psonl popty tx is psonl libility of copot offic, icto, P, tc. 1 Continus 39

40 nl Infomtion n Oth Issus (Continu) Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus FL Loclly ssss: nl businss; Cntlly ssss: ilos. Rul 12D , F.A.C. Rl n psonl popty. Subjct to th xmptions in Chp. 196 of th Floi Sttuts, ll l popty is txbl. In gnl, tngibl psonl popty hl fo businss pupos (n not hl fo sl) is txbl. 1/1 ch y, xcpt constuction wok in pogss shll hv no vlu plc upon it until substntilly complt s fin in (11)() , Floi Sttuts. County Vlu Ajustmnt Bo. Sc Floi Sttuts. 0 A Loclly ssss: nl businss; Cntlly ssss: ilins, ilo quipmnt compnis, spcil fnchiss, public utilitis. Rl n psonl popty. 1/1 County bo of quliztion, hing offic, o bining bittion with th bo of tx ssssos. Rigi us of mss ppisl tchniqus tht cn pouc inquitbl sults. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 HI Loclly ssss: nl businss (ll popty loclly ssss). Rl popty (psonl popty xmpt). 1/1; 10/1 in City n County of Honolulu Locl bo of viw. 0 ID Loclly ssss: nl businss; Cntlly ssss: public utilitis n ilos. Rl n psonl popty. 1/1. Potion occus with spct to tnsint psonl popty, Iho Co Loclly ssss: county bo of quliztion. Cntlly ssss: Stt Tx Commission. 0 IL Loclly ssss: nl businss; Cntlly ssss: ilo popty (opting ilo popty) n pollution contol fcilitis. Rl popty. Cvt, w/spct to mchiny n quipmnt tht ws clssifi s l stt pio to Jn. 1, 1979 (S 35 ILCS 200/24-5). 1/1 Asssso (optionl) n Bo of Rviw. Cook County hs spcil pocus. High vlu poptis inppopitly tgt which cts vlution inquitis with oth poptis. 1 IN Loclly ssss: nl businss, oil n gs; Cntlly ssss: Public utilitis, tlcommunictions n ilos. Rl n psonl popty. 3/1 Loclly ssss: township o county sssso. Cntlly ssss: Inin Bo of Tx Rviw. Slow to mk chngs to popty tx systm cl unconstitutionl. 1 IA Loclly ssss: nl businss; Cntlly ssss: Rilos n utilitis. Rl popty n spcifi intngibl popty (ctin intngibls of cit unions n invstmnt compnis). Loclly ssss psonl popty is not tx. s n lctic compnis mit plcmnt tx bs on consumption. 1/1 Loclly ssss: County o City Bo of Rviw. Cntlly ssss: Stt Bo of Tx Rviw. Rplcmnt tx ppls to IA DOR. Cnnot ppl vlu in off-ppisl y. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 KS Loclly ssss: nl businss; Cntlly ssss: Moto cis, ilos n utilitis. Rl n psonl popty (psonl popty cqui ft 6/30/2006 is xmpt fom tx). 1/1 Loclly ssss: must stt with county ppis. Cntlly ssss: Stt Cout of Tx Appls. Diffnt vlution ppochs bs on popty typ (gn. businss - cost; utilitis - unit) n intngibls pick up in unit vlution. 1 KY Loclly ssss: nl businss l popty; Cntlly ssss: Moto vhicls, psonl popty, public svic copotions n wt tnspottion copotions. Rl n psonl popty. 1/1 Loclly ssss: popty vlution ministto thn county bo of ssssmnt ppls. Cntlly ssss: KY DOR. Dispt ttmnt with public utility popty. 1 40

41 nl Infomtion n Oth Issus (Continu) Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus LA Loclly ssss: nl businss; Cntlly ssss: Rilos, ilins, utilitis, insunc n tnspottion quipmnt. Rl popty n psonl popty (n spcifi intngibl popty of public svic poptis, bnk stocks, n ctin cit ssssmnts). 1/1 (xcpt 8/1 in Olns Pish). Loclly ssss: Pish bo of viw. Cntlly ssss: Louisin Tx Commission. nting of functionl n conomic obsolscnc vy pish to pish (lck of unifomity). Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 ME Loclly ssss: Businss popty xcluing tht cntlly ssss; Cntlly ssss: Tlcom psonl popty. Rl popty n psonl popty (som businss quipmnt is xmpt). 4/1 Loclly ssss: locl sssso o municipl offics. Cntlly ssss: Stt Tx Asssso. Assssos cn qust txpy to fil popty list n filu to spon cn limit ppl. 1 MD Loclly ssss: nl businss; Cntlly ssss: Rilos, utilitis, stock of omstic cops, istill spiits, businss TPP n olling stock. Rl n psonl popty. 1/1 Loclly ssss: ssssmnt supviso thn to county popty tx ssssmnt ppl bo. Cntlly ssss: Stt Dptmnt of Assssmnts n Txtion. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 1 MA Loclly ssss: nl businss; Cntlly vlu: Piplin n nonwilss tlphon popty (spcil povisions fo lctic compnis). Rl n psonl popty (most psonl popty own by C cops n mnufctuing cops xmpt). In gnl, 1/1. Loclly ssss: municipl bo o ssssos. Cntlly vlu: Appllt Tx Bo. ATB infoml hing svly limits ppllt viw. Municiplitis cn clssify l stt into 4 clsss n cn hv iffnt tx ts fo ch clss (.g., iffnt ts fo commcil n sintil). High vlu poptis inppopitly tgt which cts vlution inquitis with oth poptis. 1 MI Loclly ssss: nl businss; Cntlly ssss: Ctin popty of public svic compnis. Rl n psonl popty. 12/31 Loclly ssss: som loclitis qui qust fo sssso to viw bfo ppling to locl bo of viw. Cntlly ssss: Stt Bo of Asssso (thn Cout of Clims). 0 MN Loclly ssss: nl businss; Cntlly ssss: Aiflight, ilos, pow compnis n oil piplins. Rl popty n limit businss psonl popty (ctin utility popty). 1/2 (fo ssssmnt). Loclly ssss: Locl bo of viw o ictly to cout (ith istict cout o tx cout). Cntlly ssss: Tx cout o istict cout. 0 MS Loclly ssss: nl businss; Cntlly ssss: Public svic copotions, ilins, ilos. Rl popty, psonl popty, n spcifi intngibl popty (mony on hn n ctin vinc of inbtnss bing intst). 1/1. Loclly ssss: bginning 7/1/2010 to th Mississippi Dpt. of Rvnu. Cntlly ssss: Stt Tx Commission. Imposition of pnlty not clly stt on tx bills. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 MO Loclly ssss: nl businss; Cntlly ssss: Utilitis, piplins, tlcom, ilins n ilos. Rl n psonl popty. 1/1 Loclly ssss: County Bo of Equliztion. Cntlly ssss: Stt Tx Commission. Cnnot ppl vlu in off-ppisl y. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 Continus 41

42 nl Infomtion n Oth Issus (Continu) Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus MT Loclly ssss: nl businss; Cntlly ssss: Public utilitis, mining, ilos n ilins. Rl n psonl popty. Btwn 1/1 n fist Mony in August. Loclly ssss: County Tx Appl Bo. Cntlly ssss: Stt Tx Appl Bo. owing ispity btwn mkt n txbl vlu ltionship (gows mo ft ch ppisl cycl). Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 NE Loclly ssss: nl businss; Cntlly ssss: Rilos, ilins, tlcom, piplins n utilitis. Rl n psonl popty. 1/1 Loclly ssss: county bo of quliztion. Cntlly ssss: Dpt. of Popty Tx Assssmnts thn to Tx Equliztion & Rviw Commission. Intngibls not spcificlly xmpt fo cntlly ssss txpys. 1 NV Loclly ssss: nl businss intcounty popty; Cntlly ssss: Intstt o intcounty popty,.g., utilitis. NRS Rl n psonl popty. 1/1. NRS Loclly ssss: County Bo of Equliztion. Cntlly ssss: Stt Bo of Equliztion. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 1 NH Loclly ssss: nl businss; Cntlly ssss: Rilos, xpss compnis n utilitis. Rl popty with spt tx fo utility popty (psonl popty xmpt). 4/1 Loclly ssss: slctmn o sssso thn to Buu of Tx n Ln Appls o county supio cout. Cntlly ssss: Dpt. of Rvnu Amin. thn to Buu of Tx n Ln Appls o county supio cout. Fo ctin businsss th tx t fo stt lvl school funing is significntly high thn oth poptis. 1 NJ Loclly ssss: nl businss n most utility popty; Cntlly ssss: Rilo opting popty. Rl n limit psonl popty (.g., psonl popty of finis n locl xchng tlphon compnis). 10/1/2009 of th pcing y (vlution t fo 2010 is 10/01/2009). Loclly ssss: County bo of txtion (if ssss vlu is > $1 million cn fil ictly w/nj Tx Cout). Cntlly ssss: NJ Tx Cout. Commcil popty owns must fil incom sttmnt within 45 ys of qust by sssso o thy will los ight to ppl & nt incom ictly ffcts vlu of commcil popty. Businss ntity in n ppl must hi ttony mitt to pctic in Nw Jsy. Issus with psonl popty ffix to l popty n tx s l popty. 3 NM Loclly ssss: nl businss popty; Cntlly ssss: Opting popty of ilos, ilins, utilitis, non utility mchnt lctic gntion n tnsmission, communictions compnis, piplins, mining n ctin constuction psonl popty. Rl popty n psonl popty. 1/1. Loclly ssss: County vlution potst bo. Cntlly ssss: Txtion n Rvnu Dptmnt o filing fun suit to stt istict cout. 0 NY Loclly ssss: nl businss; Cntlly ssss: Spcil fnchiss of utility compnis. Rl popty (inclus spcil fnchis popty fin s ctgoy of l popty). Vis by ssssing juisiction. Loclly ssss: Locl Bo of Assssmnt Rviw (Nw Yok City n Nssu County hv spcil commissions). Cntlly ssss: Nw Yok Offic of Rl Popty Tx Svics. Tx bill bs on ith ctul o tnsitionl ssssmnt, whichv is lowst. No st vlution t. Vy pocul n lngthy ppl pocss. Popos uction of ov 90% in stt i fo ppisls n funing limit to loclitis not ssss in ov fou ys. 3 42

43 nl Infomtion n Oth Issus (Continu) Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus NC Loclly ssss: nl businss; Cntlly ssss: Public svic compnis. Rl n psonl popty (n ctin intngibl popty such s lshol intsts on xmpt l popty). 1/1 Loclly ssss: Bo of County Commissions o County Bo of Equliztion n Rviw. Cntlly ssss: Noth Colin Popty Tx Commission. Imptil ntu of govning bois subjct to bt. Thi pty uits sult in scp ssssmnts fo imput sls tx uplifts on ls quipmnt. Cnnot ppl vlu in off-ppisl y. Contingnt f uitos us. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 3 ND Loclly ssss: nl businss; Cntlly ssss: Utilitis. Rl popty n som psonl popty of cntlly ssss compnis. 2/1 (loclly ssss); 1/1 (cntlly ssss). Loclly ssss: locl bo of quliztion. Cntlly ssss: istict cout of th county in which th compny mintins its pincipl plc of businss in th stt. 0 OH Loclly ssss: All l popty xcpt opting ilo popty; Cntlly ssss: Rilos opting popty n ctin public utility psonl popty. Rl popty n ctin public utility psonl popty. 12/31 fo psonl popty n 1/1 fo l popty. Loclly ssss: county bo of vision. Cntlly ssss: Tx Commission n thn to Bo of Tx Appls. Thi pty,.g., school isticts, cn ppl l popty vlus. 1 OK Loclly ssss: nl businss; Cntlly ssss: Rilos, i cis n public svic copotions. Rl n psonl popty. 1/1 (5/31 fo unmnufctu fm poucts). Loclly ssss: county sssso thn to county bo of quliztion. Cntlly ssss: Stt Bo of Equliztion thn to Cout of Tx Rviw. Thi pty,.g., school istict, cn ppl vlu. Intngibls not spcificlly xmpt fo cntlly ssss txpys. 2 OR Loclly ssss: nl businss; Cntlly ssss: Rilos, i tnspottion, communiction povis, utilitis, piplins n toll big owns. ORS Rl n psonl popty. 1/1 Loclly ssss: County Bo of Popty Tx Appls. Cntlly ssss: Dptmnt of Rvnu. Intngibls not spcificlly xmpt fo cntlly ssss txpys. 1 PA Loclly ssss: ll l popty is ssss t th locl lvl. Rl popty n ctin intngibl popty. No unifom t in PA. Loclly ssss: County lvl ppls bo (nm vis by county). Vlution isputs oftn qui 3 pty ppis n/o us of lgl counsl. With common lvl tio th couts qui to xmin vinc of ssssmnt-to-mkt vlu tio of compbl poptis. No st vlution t. Thi pty,.g., school istict, cn ppl vlu. 3 RI Loclly ssss: All l popty n gnl businss psonl popty; Cntlly ssss: psonl popty of tlcom, cbl, n xpss compnis. Rl n psonl popty. 12/31 Loclly ssss: Locl sssso thn to locl tx bo o viw. Cntlly ssss: Dptmnt of Rvnu. 0 Continus 43

44 nl Infomtion n Oth Issus (Continu) Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus SC Loclly ssss: nl businss; Cntlly ssss: Moto vhicls n moto cis, copot hquts, copot offics, copot istibutions fcilitis, mnufctuing, ilos, pivt clins, ilins, utilitis, tlcom, piplins, mining n mchnts (psonl popty only). Rl n psonl popty. 12/31 (n of ccounting pio fo cntlly ssss popty). Loclly ssss: County sssso thn to county bo of ssssmnt ppls; Cntlly ssss: SC DOR. Intngibls not spcificlly xmpt fo cntlly ssss txpys. 1 SD Loclly ssss: All gnl businss l popty; Cntlly ssss: Piplins, ilins, ilos, tlphon compnis n public svic compnis. Rl popty (cntlly ssss ntitis unit vlu mtho inclus th vlution of both l n psonl popty). Tlcom popty is xmpt fom popty tx. 11/1 fo loclly ssss popty n 1/1 fo cntlly ssss popty. Loclly ssss: Locl o county bo of quliztion. Cntlly ssss: Cicuit cout (ft infoml ppls pocus). Lss fo 3 o mo ys txbl fo popty tx. Lw os not spcify whth pymnt of tx is pquisit to n ppl. 1 TN Loclly ssss: nl businss; Cntlly ssss: Utilitis, ilos, tlcom tows n tnspottion compnis. Rl popty, psonl popty n ctin intngibl popty (insunc compnis, lon n invstmnt compnis, n cmty compnis). 1/1. Loclly ssss: County bo of quliztion. Cntlly ssss: Stt Bo of Equliztion. Intngibls not spcificlly xmpt fo cntlly ssss txpys. 1 TX Loclly ssss: All popty incluing utilitis n ilos; Cntlly ssss: Comptoll ssist in lloction of ilo txbl vlu. Rl popty, psonl popty n ctin intngibl popty (insunc compnis n svings n lon ssocitions). 1/1 (invntoy hs optionl 9/1 t). Loclly ssss: County ppisl viw bo thn to istict cout. Locl ppisls subjctiv. Thi pty,.g., school istict, cn ppl vlu. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 3 UT Loclly ssss: Non-ppotion gnl businss popty; Cntlly ssss: Popty quiing ppotionmnt coss county lins, utilitis, tlcom, ilins, ilos, gothml soucs, mining n commcil cis. Rl n psonl popty. 1/1. Loclly ssss: County bo of quliztion. Cntlly ssss: Uth Stt Tx Commission. Impovmnt n on qul ttmnt of funs n nw txs on scp popty. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 2 VT Loclly ssss: nl businss; Cntlly ssss: opting popty of ilos n som popty of utilitis n tnspottion compnis. Rl n psonl popty (mny municiplitis hv opt out of psonl popty tx). 4/1. Loclly ssss: Bo of Lists. Cntlly ssss: Division of Popty Vlution n Rviw. Rsintil n commcil popty tt iffntly un th stt s uction popty tx. Uniqu ttmnt of lctic gnting plnts fo uction popty tx (3/4 th non-sintil t plus itionl tx pi ictly to th stt). 1 44

45 nl Infomtion n Oth Issus (Continu) Stt Typ of Txpys Txbl Popty Vlution Dt Initil Appl Juisiction Oth Issus VA Loclly ssss: nl businss; Cntlly ssss: Public svic copotions. Rl n psonl popty. 1/1 o 7/1. ( ) Loclly ssss: Locl sssso n thn to county o city bo of quliztion (l popty) o Tx Commission (businss psonl popty). Cntlly ssss: Stt Copotion Commission o Tx Commission (piplin n opting ilo popty). (S ) 0 WA Loclly ssss: nl businss; Cntlly ssss: Most utilitis n ilos. (Stt lso povis visoy vlutions t th qust of locl ssssos fo inustil txpys.) Rl n psonl popty. 1/1 (7/31 fo nw constuction). RCW Loclly ssss: County Bo of Equliztion. Cntlly ssss: WA Dptmnt of Rvnu. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 1 WV Loclly ssss: nl businss; Cntlly ssss: Public utilitis n ilos (mnufctuing n inustil popty, ntul souc popty is cntlly ppis). Rl n psonl popty. 7/1 (12/31 fo public utilitis n ilos). Loclly ssss: Locl sssso n/o county commission. Cntlly ssss: Bo of Public Woks (public utilitis n ilos) o Tx Commission (cntlly ppis popty). Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 1 WI Loclly ssss: nl businss; Cntlly ssss: Mnufctuing popty n utilitis (pow compnis ssss by DOR on goss cipts in liu of popty tx). Rl n psonl popty. 1/1. Loclly ssss: Bo of ssssos thn to locl bo of viw (fist clss citis only; othwis Bo of Rviw). Cntlly ssss: Stt Bo of Assssos n thn Wisconsin Tx Appls Commission. 0 WY Loclly ssss: nl businss; Cntlly ssss: mining, utilitis, ilos n gicultu ln. Rl n psonl popty. 1/1. Loclly ssss: Asssso s offic n County Bo of Equliztion. Cntlly ssss: WY DOR n Stt Bo of Equliztion. Unit vlution fils to xclu vlu of intngibl popty fo cntlly ssss popty. 1 45

46 Ennots i Commnt fom l Pnt, conomist t th Wshington, D.C. bs Tx Fountion. Loct on MSN Mony, ticls.monycntl.msn.com/txs/avic/amicsmosthttx.spx. ii Rsch Committ of IAAO, Assss Vlu Cp Ovviw, publish in th Jounl of Popty Tx Assssmnt & Aministtion (2010), Volum 7, Issu 1, p. 17. iii Fom US Cnsus Buu, Stt ovnmnt Tx Collctions in 2009 pot ls in Mch, 2010 n vis My, Whil popty tx vnu ws, s whol up fo th stts, collctivly, stt tx collctions in fiscl y 2009 w own 8.5% fom fiscl y 2008 collctions. iv Rich Almy, Aln Donfst & Dphn Knyon, Funmntls of Tx Policy, publish in 2008 by th IAAO. S pg 12. v Holly Hwtt Ulbich, A Popty Tx fo th 21th Cntuy, publish in 1998, inicts issus of finss pobbly th biggst cus of txpy iscontnt. Th pot cn b foun t: vi S Totl Stt n Locl Businss Txs pot fo fiscl y 2009 pp by Enst n Young in conjunction with COST issu Mch, Th pot cn b foun t: vii I. viii Popty Tx Rvnu Incs As Popty Vlus Fll, pot by th Tx Fountion issu August 31, 2010, No ix Th Popty Tx Tsk Foc ws nm th Popty Tx Committ in x IAAO Co of Ethics n Stns of Pofssionl Conuct, s xi Rich Almy, Aln Donfst & Dphn Knyon, sup not iii, t 28. xii Mk Hvmn & Ti A. Sxton, Popty Tx Assssmnt Limits, publish Jun, 2008 by th Lincoln Institut of Ln Policy. Quot is fom th Excutiv Summy on p. 2. S Limits. xiii COST woul lik to spcificlly cknowlg th wok conuct by stunts tht w cipints of th ogtown Univsity Lw Cnt Fllowship pogm t COST. Th following fllows ssist COST in conucting sch to gth t fo this Scoc: Suny Vnv (2008), Mliss Smith (2009), n uinv Sw (2010). xiv Th Mol Stt Aministtiv Tx Cout Act ws opt by th Amicn B Assocition in August, Th Mol Act cn b foun t: ADOPTED_ pf. xv S Cs No SC D fom th Supm Cout of Kntucky n Sptmb 23, xvi Som stts, such s Myln, inppopitly inclu th vlu of intngibls whn using unit vlution mthoology. xvii J. Wyn Moo, Popty Tx Equity Implictions of Assssmnt Cpping n Homst Exmptions fo Own-Occupi Singl- Fmily Housing, publish in th Jounl of Popty Tx Assssmnt & Aministtion, Volum 5, Issu 3, p. 63. xviii Of concn, som Clifoni lgisltos hv popos lgisltion to tt businss popty iffnt fom sintil. xix Th pot is vilbl to th public t th Lincoln Institut. Th wbsit loction is xx Simmons v. Iho Tx Commission, 723 P.2 887, 889 (Iho 1986). A cht in th cs not tht tx libility on non-xmpt popty incs by 34% whil th libility fo xmpt popty opp by 25%. xxi Lgisltion pss (HB2001) to uc Clss 1 popty to 19.5% (2013), 19% (2014), 18.5% (2015) n 18% (2016 n thft). Clss 2 popty is uc to 15% (2016 n thft). 46

47

48 Th Council On Stt Txtion (COST) is th pmi stt tx ogniztion psnting multijuisictionl txpys. COST is nonpofit t ogniztion consisting of nly 600 multistt copotions. COST s mission is to psv n pomot quitbl n noniscimintoy stt n locl txtion of multijuisictionl businss ntitis. 122 C Stt, NW, Suit 330 Wshington, DC Phon: (202) Fx: (202) Council On Stt Txtion (COST)