Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Representative Matheson proposes lowering statutory cap on new property‑tax revenue; committee hears mixed reactions (House Bill 517)
Summary
Representative Matheson introduced House Bill 517 to lower the statutory cap on new property‑tax revenue captured from reassessments to 3% (or CPI, whichever is lower), a measure he described as protecting homeowners from sharp tax increases tied to reassessments.
Representative Matheson introduced House Bill 517, a bill that would reduce the statutory cap on new revenue taxing entities may collect from reassessed property values, from 5% to 3% (or CPI, whichever is lower). The sponsor framed the bill as a taxpayer protection measure intended to slow the growth of property tax bills linked to reassessment cycles.
“The bill…slows down the growth of real property taxes. Currently, all of our tax spenders can gain up to 5% or CPI, whichever is lower, in new revenue from the reassessed value of existing property,” Matheson said. He told committee members that, in the last 38 years, CPI exceeded 3% in 16 of those…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
