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Committee adopts substitute clarifying assessor rules for affordable rental housing; short form and attorney-fee remedy included
Summary
House Bill 2245 would standardize how assessors value properties operated as affordable rental housing and requires a Department of Taxation short form; the committee adopted a substitute that narrows when the income approach must be used.
Madam Chair: the committee considered House Bill 2245, a measure addressing how local assessors determine fair market value for properties operated in whole or in part as affordable rental housing. The measure, as introduced by Delegate Colson, directs assessors to use the income approach for such properties, requires localities to reimburse owners for reasonable attorney fees and costs if an assessment failed to comply and the owner wins an appeal, directs the Department of Taxation to develop a short form for assessors to use, and states that the bill’s provisions apply to assessments completed on or after July 1, 2026.
The committee considered and adopted a substitute that clarified several administrative and compliance points. Counsel explained the substitute does…
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