Jim Reynolds Offers Property Tax Measure
Senator Jim Reynolds, Oklahoma City Republican, said today he'll sponsor legislation in this session offering property tax relief to homeowners.
Reynolds’ bill will cap the annual increase in property taxes at 2.5% or the rate of inflation, whichever is less, effective January, 2010.
“I’ve talked to too many homeowners in my district and around the state who are feeling pinched every year when they get their property tax assessment,” said Reynolds. “Due to a flaw in current law, County Assessors are raising property taxes the maximum allowable 5% every year, even when real property values may be remaining flat or even dropping.
SJR 5 is similar to a bill Reynolds offered in previous years, cutting the growth of property taxes for all homeowners, including newlyweds, baby boomers and seniors.
Reynolds’ bill will cap the annual increase in property taxes at 2.5% or the rate of inflation, whichever is less, effective January, 2010.
“I’ve talked to too many homeowners in my district and around the state who are feeling pinched every year when they get their property tax assessment,” said Reynolds. “Due to a flaw in current law, County Assessors are raising property taxes the maximum allowable 5% every year, even when real property values may be remaining flat or even dropping.
SJR 5 is similar to a bill Reynolds offered in previous years, cutting the growth of property taxes for all homeowners, including newlyweds, baby boomers and seniors.
Labels: Jim Reynolds, Property Tax
posted by Mike McCarville @ 12:18 PM
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