Real Property Tax Assessment
Maddy summaryHB 73 modifies the rules for calculating real property tax assessments, specifically addressing how much an assessed value can increase. The bill limits the annual growth in a property's assessed value to no more than five percent. This change directly affects property owners and local governments by capping how quickly tax bases can rise based on valuation increases. The legislation was enacted to provide a clearer framework for property tax calculations in the state.
Signed into law May 16, 2024
0 co-sponsors