Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances broad property-tax reform amendment, sends bill to appropriations
Summary
The House Finance and Taxation Committee adopted a package of property-tax changes and homestead credits as an amendment to House Bill 15-75 and recommended the amended bill to the Appropriations Committee.
The Finance and Taxation Committee on Oct. 12 adopted a major amendment to House Bill 15-75 that changes assessment rates and expands a homestead credit, then voted to refer the bill to the House Appropriations Committee.
The amendment, offered by Representative Doctor, cuts assessment rates for commercial and agricultural property from 10% to 8.5%, reduces the baseline residential assessment from 9% to 8.5% and creates a larger homestead credit that effectively lowers the primary-residence rate from 9% to 5.5%. Committee members also discussed limits on valuation growth and other mechanics drawn from prior bills cited in committee discussion.
The package includes creation of a legacy earnings fund and a legacy…
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
