An Act relative to privately owned public use airport real estate taxes
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses the taxation of real estate owned by private entities that are used for public use airports. It seeks to clarify and standardize how property taxes are assessed and collected on these properties, aiming to ensure consistent and equitable treatment. The bill proposes adjustments to the existing tax framework to account for the unique circumstances of privately owned airport land. It is part of a series of similar bills addressing airport funding and taxation.
Key provisions
- Establishes guidelines for assessing property taxes on privately owned public use airport real estate.
- Aims to standardize the process of determining taxable value for these properties.
- Addresses potential inconsistencies in how property taxes are applied to airport land.
- Supports consistent reimbursement of Payments In Lieu of Taxes (PILOT) funding for airports.
Who is affected
- Privately owned airport landowners
- State and local governments responsible for airport taxation
- Airport operators
- Taxpayers in communities with privately owned airports
Notable changes
- The bill seeks to clarify the application of existing property tax laws to privately owned airport land.
- It may introduce new or modified valuation methods for these properties.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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