Mining property assessment changes heard in committee

SB 622 was heard this week in the Senate Ways and Means Committee.  The bill, sponsored by Senator Gary Romine, would assess property purchased by mining companies, but not yet used for mining, as agricultural/horticultural property, rather than commercial property.

The lower assessment would be applied to land purchased by a mining firm but that has not yet been permitted or bonded for mining.  Once permitted, the land would be treated as commercial property.

The bill also protects proprietary information that is shared with a county assessor of other public entity as part of the tax assessment process from disclosure.

AIM supported the bill in the hearing.