Real property taxes; notice by mail of proposed increase.

Real property taxes; notice by mail of proposedincrease. Requires localities, after conducting a reassessment of real estate, to provide notice to property owners by mail of certaininformation prior to adopting a tax rate that would increase theamount of real property tax collected above 101 percent of the prioryear's tax collections. The bill requires the notice to include (i)the dollar and percentage amount of increase that the proposed tax rate would levy on the owner's particular property compared to theprevious year's tax levy, (ii) the tax levy on the owner's particularproperty for the previous tax year and the proposed levy for thecurrent tax year, and (iii) all of the information regarding theproposed tax rate that under current law is required to be postedin a newspaper and a prominent public location.