Changes the assessment cycle for determining the assessed valuation of subclass (1) residential real property from two years to four years, beginning in 2027
Prohibits certain organizations that contract with the departments of social services and elementary and secondary education from taking more than a certain percentage in fees when distributing department funds
Changes the law regarding delinquent tax collections by setting the maximum interest rate charged on delinquent tax payments at five percent and authorizes a waiver for certain property tax penalties