HB1229

DeadDeferred to the 41st day···

Provide an exemption from certain property taxation for owner-occupied single-family dwellings, and to limit the taxes due on property over the previous year.

John Hughes,Sue Lucas-Peterson

House Bill·Introduced Feb 5, 2025·Last action Feb 21, 2025

HousingProperty Tax

Official Page

IntroducedIntro

In CommitteeCmte

Passed OriginPassed

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At GovernorGov

DeadDead

This bill creates two new property tax breaks for homeowners: a $100,000 exemption on the value of owner-occupied single-family homes, and a tax credit that caps annual property tax increases at 3% (unless the property changed use, was expanded, or the local taxing district voted to exceed tax limits). These changes reduce property taxes for individual homeowners but do not affect existing commercial or investment property taxation.

AI-generated summary

Property tax ratesBill would reduce (relevance: 95%)Property tax exemptionsBill would expand (relevance: 90%)Affordable housingBill would expand (relevance: 50%)

Changes to Existing Law

2 sections affected137 words added

View full diff

§ 10-13new § 10-4new

History (3)

Feb 21, 2025H
State Affairs Deferred to the 41st legislative day Passed, YEAS 8, NAYS 3.
Feb 21, 2025H
State Affairs Scheduled for hearing
Feb 5, 2025H
First read in House and referred to House State Affairs H.J. 198