HB 1119 caps annual property tax assessment increases at 3% for owner-occupied homes and non-farm properties, even if the property's market value rises more. However, the 3% cap doesn't apply when a property changes ownership through a regular sale, when ownership transfers without a traditional sale, or when significant improvements are made to the property.
State Affairs Deferred to the 41st legislative day Passed, YEAS 8, NAYS 4.
State Affairs Scheduled for hearing
State Affairs Motion to amend
State Affairs Scheduled for hearing
First read in House and referred to House State Affairs H.J. 144
Prime sponsor · Rep
R
Dist. HD-030
State Affairs — Deferred to the 41st legislative day