Eligibility qualifications for an assessment freeze
for single-family dwelling revised.
be amended to read as follows:
This chapter does not apply to a single-family dwelling with a full and true market
value of one hundred fifty thousand dollars or more unless the applicant has received the freeze
on assessments in a preceding year on the single-family dwelling.
Beginning on January 1, 2008,
the eligibility qualification value of the single-family dwelling provided in this section shall be
annually increased by an index factor. The index factor is the annual percentage change in the
consumer price index for urban wage earners and clerical workers as computed by the Bureau of
Labor Statistics of the United States Department of Labor for the year before the year immediately
preceding the year of adjustment or the annual percentage change in federal social security
payments for the preceding year, whichever is greater.