Brief⁽¹⁾

H.C.R. 5039, if adopted by voters on November 3, would amend Section 1 of Article 11 of the Kansas Constitution to prohibit under most circumstances annual increases in appraised valuation of real estate from exceeding the rate of inflation determined by the consumer price index for all urban consumers (CPI-U). New property and newly improved property would be valued in comparison with other real property of known or recognized value. The appraised valuation growth limitation also would not apply to land devoted to agricultural use, which is appraised based on its use value rather than upon fair market value.

Background

The concurrent resolution as introduced would have authorized the Legislature to provide for limitations on increases in appraised valuation.

The House Committee of the Whole amendment is technical.

1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext-bill.html.