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House committee hears bill to cut state property tax multipliers, sponsors say it restores fairness for homeowners
Summary
House Bill 528 would lower statewide property tax rates to shift the tax burden away from residential property after recent reappraisals; sponsors and proponents described broad homeowner relief while opponents warned of revenue and equity tradeoffs and larger state fiscal consequences.
Representative Edward Byrne opened the HB 528 hearing by saying the bill reduces state multipliers that determine class‑based property tax rates and described the measure as a way to offset recent property value increases that have raised homeowner tax bills. Byrne said the bill reduces the class 3 (agricultural) multiplier from 2.16 to 1.7 and lowers the main residential multiplier for most residences from 1.35 to 0.76 (with a secondary residential bracket for homes over $1.5 million shifting from 1.40 to 1.35).
Proponents told the committee the change would reverse the large increase in residential tax burden caused by recent reappraisals and preserve homeownership. Senator Mary Ann Dunwell framed HB…
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