Property Tax Exemption & Deferral Programs

The 1889 state constitution recognized that to be effective, uniformity must apply to both assessments and tax rates. Through every subsequent amendment, uniform assessment has remained a constitutional requirement. In 1973 the Legislature mandated that property be assessed at 100% of its market value beginning with the 1975 assessments. Up until the 1930's, property tax was the only major tax that supported most state and local government programs. Today, property tax accounts for about 30% of total state and local taxes. It continues to be the most important revenue source for public schools, fire protection, library, park and recreation, and other special purpose districts.