Require revenue interim committee to make a recommendation about property tax rates

The Revenue Interim Committee is now explicitly required to evaluate the impact of property tax rates on maximum levies and levies voted by local entities, in addition to general property tax impacts.

The bill clarifies that the department must provide the Revenue Interim Committee with a report on tax rates that ensure taxable value neutrality for each property class before a recommendation can be made.

The reappraisal cycle for Class 3, Class 4, and Class 10 property was updated to require revaluation every two years, with specific deadlines for completing the cycle by January 1 of the second year.

Removed draft formatting markers and bill designation numbers (e.g., 'SB0237.2') to reflect the final enrolled version of the legislation.

The legislative committee is now required to evaluate the impact of tax rates on the maximum levy authorized under 15-10-420 and levies voted under 15-10-425.

The department's obligation to conduct field inspections was clarified to ensure a sufficient number of properties are inspected to meet all reappraisal requirements.

The bill number was changed from LC 4158 to SB 237.1, and the document title was updated to 'Authorized Print Version - SB 237'.

The sponsor line was updated to explicitly name 'D. FERN' as the introducer.