Limitation on the assessed value of real property used for residential purposes

(a) The repeal of the renewable energy source property tax exemption in Section 3 of Article VII shall take effect upon approval by the voters.(b) The amendment to Section 4 of Article VII authorizing the legislature to prohibit an increase in the assessed value of real property used for residential purposes as the result of improving the property’s resistance to wind damage or installing a renewable energy source device shall take effect January 1, 2009.History.—Proposed by Taxation and Budget Reform Commission, Revision No. 3, 2008, filed with the Secretary of State April 28, 2008; adopted 2008.