Bill > SF3451

This bill modifies the property tax exemption for certain airport property. It provides that the property tax exemption for airport property does not apply to property located at airports owned or operated by the Metropolitan Airports Commission or by cities with a population over 150,000. For cities with a population between 50,001 and 150,000, the net tax capacity of the property is reduced by 50% when calculating the tax imposed. The bill also clarifies that the property tax exemption for airport property does not apply to real estate owned by a municipality and leased or used for agricultural purposes.