Fountain Valley News - Your Hometown Community Newspaper

Tax relief, or sleight of hand?

 

Last updated 6/9/2021 at 9:27am

SB21-293 CONCERNING PROPERTY TAXATION and another 100 words or so make up the title to a recently introduced bill that would temporarily lower the mill levy and create more classifications of real property (real estate, homes, businesses, agriculture, etc.).

If passed and signed into law, it would be a two-year reduction lowering the mill levy on everything except Lodging and Commercial. It also has a deferral mechanism where if home values rise above 4 percent per year, the excess increase could be deferred and secured with a lien placed on the house not to exceed $10,000. That would give...



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