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Assessment of certain commercial property.

This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.

IN SB 194 · Senate Bill · 2025

Stage
Session ended
Started in
Senate
Sponsor
Rick Niemeyer
Latest action
Jan 8, 2025

What it does

Establishes certain assessment requirements for commercial property with a structure that is not more than 100,000 square feet in area and that is: (1) used for retail purposes; (2) a maintenance or service shop; and (3) detached or offsite storage property or facilities used in relation to those uses. Requires the assessor to annually determine the assessed value of those properties using each of the following approaches: (1) Cost approach. (2) Sales comparison approach. (3) Income capitalization approach. Requires the assessor to use the department of local government finance cost schedules without additional modifiers, adjustments, or other trending factors beyond the location cost…

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Where it stands

This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.

  1. Introduced (Done)

  2. Committee (Current step)

    In committee · Jan 8, 2025

  3. Floor (Needs attention)

    The session ended first

  4. Law (Not started)

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Who is involved

Sponsors

The lawmakers who put their names on it, lead sponsors first.

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Work with this bill

Assessment of certain commercial property. | 52