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H.454 strips property tax classifications; bill sets new homestead/non‑homestead rates and a tax‑rate transition
Summary
The Senate amendment removes multi‑class property tax factors and instead provides for a uniform homestead rate and a uniform non‑homestead rate, plus a transition mechanism that gives district‑level cent‑discounts or penalties over five years to smooth the move to new tax rates.
The Ways & Means discussion on H.454 included a substantive change to property‑tax mechanics: the Senate amendment removes the previous multi‑classification system and instead calls for a uniform homestead education tax rate and a uniform non‑homestead rate set annually by statute.
Staff explained the December 1 letter would change accordingly: instead of recommending a single statewide rate multiplied by classification factors, the Department of Taxes and the Agency of Education would recommend separate homestead and…
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