Business Personal Property Tax Exemption

There is an exemption from property tax for business personal property that would otherwise be listed on a single personal property schedule that is equal to $7,300 for the current property tax year cycle. The bill increases the exemption to $10,000 for the next 2 property tax years and adjusts it for inflation for subsequent property tax cycles. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)