TAX REFORM: Lawmakers Compromising
Lawmakers are unveiling details of a property tax reform plan.
“When it’s all said and done it’ll be a 25-percent reduction in commercial property tax collected in this state,” says Senate Majority Leader Mike Gronstal.
He says the tax reduction would be phased in over a five-year period and would set aside money to pay local governments that will lose tax revenue.
Gronstal says this plan is a middle ground, including ideas from the governor and House Republicans.
Besides property tax reform, Gronstal says lawmakers are making progress on the budget. He says the education budget is done and the health and human services budget is getting close.
Gronstal says he’s optimistic the session will wrap up by the middle of next week. “Would I be upbeat if significant progress isn’t being made? Significant progress is being made and when done we’re all going to be pleased and all be a bit disappointed. So everyone is going to get something and give up something out of this,” says Gronstal.
House Republicans say they expect their version of the bill to be filed sometime Friday.