SB 194 — Assessment of certain commercial property.

1 sponsors · 0 co-sponsors · 149 not signed on

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Frequently asked questions

What does SB 194 do?

Establishes certain assessment requirements for commercial property with a structure that is not more than 100,000 square feet in area and that is: (1) used for retail purposes; (2) a maintenance or service shop; and (3) detached or offsite storage property or facilities used in relation to those uses. Requires the assessor to annually determine the assessed value of those properties using each of the following approaches: (1) Cost approach. (2) Sales comparison approach. (3) Income capitalization approach. Requires the assessor to use the department of local government finance cost schedules without additional modifiers, adjustments, or other trending factors beyond the location cost multiplier adjustments developed by the department. Prohibits the use of locally developed cost schedules, location cost multipliers, and market or trending adjustments. Requires the assessor to report to the taxpayer each of the values under the three approaches. Provides that the assessor has the burden of proof to establish that the assessed value of the property is the lowest value under the three approaches. Requires the assessor making the assessment to personally provide an explanation to the taxpayer concerning how the assessed value of the property was calculated if requested.

Who sponsors SB 194?

SB 194 is sponsored by Rick Niemeyer (Republican).

What is the current status of SB 194?

This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

Where can I track SB 194?

Track SB 194 free on One Click Politics — get push/email alerts when it moves.