A bill for an act relating to state and local government taxes, fees, financial authority, and budgets, by modifying property assessment provisions, divisions of revenue, and funding from the secure an advanced vision for education fund, establishing a program for first-time homebuyers, modifying and making appropriations, and including effective date, applicability, and retroactive applicability provisions.

Effective dates for new property tax provisions were shifted from 2027 to 2028 or 2029 in several sections, delaying when new tax limits apply.

The formula for calculating maximum property tax levies was updated to use different percentages (e.g., 101.5% or 102%) and adjusted for consumer price index changes in different ways.

The definition of 'new valuation' was expanded to include a broader range of factors when calculating tax limits for rural county services.

Budget year limits for cities were adjusted to include specific caps on levy rates based on the percentage change in the consumer price index.

Formatting and structural elements were updated to reflect the bill's status as amended and passed by the Senate, including adding committee information and amending section numbers.