Senator Deig has introduced SB 77 which requires the state to reimburse local government for borrowing costs in certain situations. Specifically where: (1) the department of local government finance ordered a reassessment of real property for the assessment date in 2006; (2) the billing of property taxes in the county in 2007 was late; and (3) as a result, the taxing unit had to borrow for current operations.
Not a bad idea. It should probably be more expansive since there are a number of other situations in which the State gums up the property tax works and local government ends up borrowing money due to the delay.
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