Committee reviews property tax reform: lawmakers expanded primary-residence credit and members ask for clearer tax statements

Legislative Council and Department of Taxation staff briefed the Tax Reform and Relief Advisory Committee on recent property-tax reforms, the primary-residence creditimplementation and limitations in current tax-statement formats that members say confuse taxpayers.

Megan Gordon presented a Legislative Council background memorandum summarizing statutory duties for the committee's property-tax study and recent legislative changes, including House Bill 11-76 from the 2025 session. Gordon told members that 11-76 expanded the primary-residence credit from $500 to $1,600 and removed the original sunset, created a new property classification for primary residential property (effective tax year 2026), established a cap mechanism on annual levy growth for taxing districts (3 percent plus unused excess from the prior five taxable years, with some exceptions), increased the disabled-veterans credit maximum and raised the homestead renters refund cap.

Shelley Myers, State Supervisor of…