An Act to ensure fair taxation of affordable housing

This bill amends property tax assessment rules to require local assessors to consider recorded restrictions on a property's use when determining its fair cash value for taxation. It specifically affects affordable housing properties that have legal limits on rent or sale prices documented in their deeds. The key change mandates that assessors factor these restrictions into valuation calculations, rather than treating all properties equally under current rules. This adjustment aims to ensure affordable housing is taxed based on its actual restricted use, potentially lowering tax burdens for qualifying properties.