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Committee considers 3-year property-value freeze to encourage ADU construction and BHIP participation
Summary
Legislative counsel and the committee discussed draft language to freeze taxable value increases for three years after certain ADU or BHIP grant-funded improvements, aiming to remove a disincentive to adding accessory dwelling units and to shift some BHIP projects toward ADUs.
Senate committee members reviewed draft language Feb. 21 that would temporarily stabilize property-taxable value increases tied to certain new accessory dwelling units (ADUs) and to qualifying BHIP (home rehab) grant-funded projects.
The proposed provision would "fix and maintain the taxable value at the property's grand list value in the year immediately preceding improvements" for a three-year period after completion in specified cases, committee counsel said. The policy is designed as a limited-value freeze — not a…
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