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Tax committee advances bill to ‘smooth’ property appraisals using a 10‑year average
Summary
Lawmakers approved a measure that would base residential/commercial appraisals on a 10‑year Olympic average (drop high/low and average the rest), aiming to reduce year‑to‑year spikes in taxable values. The committee approved the measure 12–9.
The House Taxation Committee approved legislation Monday to change how many properties are appraised for property‑tax purposes by averaging their appraised values over a decade.
Representative Jennifer Espin, sponsor of House Bill 894, told the committee the proposal would reduce the volatility of property-tax bills caused by swings in two‑year reappraisal cycles. “This bill attacks property tax from a new angle, the appraisal side,” she said.
Nut graf: The bill would apply an Olympic 10‑year average (drop the highest and lowest values, average the remaining eight) to class 4 residential and commercial property values, smoothing extreme annual changes. Newly constructed or reclassified properties would be phased into the system using the bill’s transition language. Advocates said the change would make tax bills more predictable; opponents warned about possible revenue shifts and requested additional analysis.
Committee action: The measure passed the committee 12–9. The Department of Revenue’s Property Assessment Division attended the hearing to answer implementation questions.
Questions and next steps: Opponents raised concerns about budget shifts to schools and local governments and asked for careful fiscal analysis.
Ending: The bill now moves to the House floor for additional debate. If enacted, the change would alter valuations used to compute taxable values and may require local budget adjustments.
