This bill caps annual property tax increases on owner-occupied single-family homes and non-agricultural properties at 3 percent per year, with the starting value based on what the property was worth on November 1, 2020. When a home is sold, the assessment can reset to the new purchase price, but from that point forward the 3 percent annual cap applies. The change aims to protect homeowners from sudden jumps in property taxes caused by rising real estate values.
House of Representatives Do Pass Amended Failed, YEAS 7, NAYS 62. H.J. 505
State Affairs Do Pass Amended Passed, YEAS 7, NAYS 6.
State Affairs Motion to amend
State Affairs Motion to amend
State Affairs Scheduled for hearing
First read in House and referred to House State Affairs H.J. 410
Senate Do Pass Amended Passed, YEAS 35, NAYS 0. S.J. 381
Senate Motion to amend S.J. 381
Taxation Do Pass Amended Passed, YEAS 6, NAYS 0. S.J. 16
Taxation Motion to amend S.J. 15
Taxation Motion to amend S.J. 15
Taxation Scheduled for hearing S.J. 1
First read in Senate and referred to Senate Taxation S.J. 164
Prime sponsor · Sen
R
Dist. SD-030
Prime sponsor · Rep
R
Dist. HD-013
Cosponsors
Do Pass Amended
State Affairs — Do Pass Amended
Do Pass Amended
Taxation — Do Pass Amended