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Conference committee agrees on 4% property valuation limit in HCR 5,011, delays implementation and narrows new‑growth treatment
Summary
A legislative conference committee reached agreement on HCR 5,011 to cap annual taxable-value growth for most property at 4%, set the proposed ballot date and accept an implementation delay and a limited treatment of new construction after negotiations over election logistics and definitions.
A legislative conference committee working on tax measures agreed to final language for HCR 5,011 that would cap the annual taxable value increase for most real property and residential mobile homes at 4% and place the constitutional amendment on the Nov. 4, 2025, ballot, the committee said during a multihour session.
The committee’s staffer summarized the measure as written: “the bill would generally limit, for property tax purposes, the growth of the taxable value of any real property or residential mobile home personal property to 4% per year,” while listing five exceptions including new construction or improvements, class changes, exemptions ending, escaped or omitted property and consolidated legal-description changes, staff said.
The agreement follows an extended discussion about the ballot timing and local election logistics. Members said they would move the constitutional amendment’s effective date back (members discussed a January 1, 2027, implementation if the ballot…
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