15-10-411. Declaration of policy -- clarification -- extension to all property classes. Section 15-10-401 is interpreted, clarified, and extended as follows:
     (1) In order to avoid constitutional challenges based on discriminatory treatment of taxpayers in tax classes not enumerated in 15-10-401 and 15-10-402, the limitation to 1986 levels is extended to apply to all classes of property described in Title 15, chapter 6, part 1.
     (2) The policy declaration in 15-10-401(5) that no further property tax increases be imposed is interpreted to mean no further increase may be made in the tax rate applied to property in each class in 1986.
     (3) No new class of property may be created solely to circumvent the policy underlying 15-10-401 and 15-10-402. If a new class of property is created in order to afford preferential treatment to a category of property, the taxable rate that applies may not exceed the rate at which such property was taxed in 1986.

     History: En. Sec. 1, Ch. 654, L. 1987.