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HB1575 introduced and amended in committee to change residential, commercial and ag valuation calculations
Summary
Representative Craig Hedlund described committee amendments to House Bill 1575 that change percentage factors used in the property-tax formula for residential, commercial and agricultural property and noted a fiscal note showing a large cost increase.
Representative Craig Hedlund, speaking for the committee, said House Bill 1575 was amended to alter the formula used to compute property tax relief across property classes. Hedlund said the committee could not find a constitutionally certain way to narrow the relief to in-state owners and instead adjusted the formula percentages for all classes of…
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