Republican legislator rolls out new property tax cap initiative
A new initiative to cap local property tax increases at 2% was rolled out Monday by Republican legislator Wylie Galt of Martinsdale.
The initiative would amend the state Constitution to cap property tax increases by all local governments at 2%, except for increases related to property improvements, like a new deck, or new property such as newly built homes. The cap applies to “residential, commercial, agricultural, industrial, timber and all other property tax classifications.”
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