137.118. Livestock and farm machinery, adjustment of tax rate ceiling without voter approval, when.
Livestock and farm machinery, adjustment of tax rate ceiling withoutvoter approval, when.
137.118. Notwithstanding any other provision of law to thecontrary, to replace any lost revenues due to the change in thepercentages of the true value in money used in determining theassessed valuation of livestock and farm machinery, any taxingauthority may adjust its 1989 tax rate ceiling without voterapproval to the extent necessary to generate the same propertytax revenue as was produced in the previous year from propertytaxes on livestock and farm machinery subject to taxation by suchtaxing authority.
(L. 1989 S.B. 110)