HB1253

The amendment adds a carve-out exempting minor home additions (those increasing assessed value by 40% or less) from resetting the assessment averaging period, which NARROWS the bill's scope by allowing homeowners with small expansions to retain the benefit of longer historical value averaging rather than starting fresh from the addition date.

The amendment fundamentally **gutted and rewrote the bill** into a different approach—instead of using an "Olympic average" of the eight most recent assessment years to adjust property values, the new version caps annual assessments at the lesser of fair market value or the prior year's assessed value increased by five percent, with full revaluations required every fifth year. This **narrows and redirects** the original intent from a multi-year averaging method to a simpler annual cap-and-revaluation system, and the bill itself includes a warning that it "has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor."