Finance

Question 1

Assessment and Taxation of Property: Uniform and Equal Rate

Answer 1

Individual taxpayers must have a reasonable opportunity to challenge whether the system prescribed by statute and regulations was properly applied to individual assessments

Question 2

Assessment and Taxation of Property: Just Valuation

Answer 2

Based on property wealth

Question 3

Assessment and Taxation of Property: Caps on Tax Rate

Answer 3

Residential = 1%

Rental/Agricultural = 2%

All other property = 3%

Question 4

Limit on State Indebtedness

Answer 4

State cannot incur indebtedness except in limited circumstances