S284 · Assessment of Property Owned and Used by Small Businesses

Assessment of Property Owned and Used by Small Businesses; Providing that real property owned and used for commercial purposes by small businesses will be assessed at just value after a certain date; prohibiting the annual change in assessed value from exceeding a specified amount; requiring that the assessed value of the property be lowered to the just value of the property under certain circumstances; providing that a change in ownership or control of the property will cause the property to be assessed at just value, etc.