Bill Title: Reinserts the provisions of the introduced bill. Makes changes concerning the valuation of low-income housing projects with 6 units or less to provide that the assessment officer, prior to finalizing and certifying assessments to the Board of Review, shall reassess the building considering the actual or projected net operating income attributable to the property, capitalized at rates for similarly encumbered Section 42 properties. Provides that the assessment provisions of the introduced bill apply during a general reassessment year or at such other time that a property is reassessed.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-05-21 - Rule 3-9(a) / Re-referred to Assignments [SB2297 Detail]

Text: Latest bill text (Introduced) [HTML]

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