SB 141 — Tax Assessment Appeals and Historic Properties: Extension of Appeal and Assessment Periods

The House Ways & Means Committee substitute to Senate Bill 141 would extend the appeal period for tax assessments from 30 to 45 days. This appeal period extension would apply to tax assessments, license fees, and refund claims. The bill also specifies the final determination date for federal income tax adjustments as the day on which the amended tax return, refund claim, administrative adjustment request, or other similar report was filed.

The bill would also extend the ad valorem taxation preferential assessment period for rehabilitated historic properties and landmark historic properties for up to an additional 12 years for income producing real property if approved by the governing authority of the county. The bill would become effective on July 1, 2025 and would be applicable all taxable years beginning on January 1, 2026.