This bill caps how much property taxes homeowners and businesses pay each year at no more than 1% of the property's assessed value, and limits annual increases in assessed values to 3% or less (unless the property has been significantly improved or changed). It also tightens rules requiring that assessed values stay closer to actual market values, with a maximum assessment level of 85% of market value instead of the current range. These changes make property tax bills more predictable and limit how much assessments can jump year to year.
Taxation Deferred to the 41st legislative day Passed, YEAS 7, NAYS 4. H.J. 1
Taxation Motion to amend Passed, YEAS 10, NAYS 0. H.J. 1
Taxation Scheduled for hearing H.J. 1
House of Representatives Referred to House Taxation H.J. 211
First Reading House H.J. 178
Taffy Howard
Prime sponsor · Rep.
R
Cosponsors
Taxation — Motion to amend
Taxation — Deferred to the 41st legislative day