Committee advances wide-ranging property tax relief package that targets seniors, veterans and referendum rules

The Senate Tax and Fiscal Policy Committee voted to move Senate Bill 1 as amended (Amendment Number 17) after a detailed presentation and debate over changes intended to provide property tax relief while limiting impacts on local government finance. The committee recorded a 10–3 vote to advance the bill to the floor.

Chairman Holman opened the discussion saying the measure was developed with the governor’s office and that the committee tried “to be careful, to be responsible to the local units of government and at the same time provide some relief to taxpayers.” He noted the fiscal note attached to the amendment: roughly $289 million in the first year and climbing toward several hundred million in subsequent years, with committee members pointing to an approximate $687 million impact in year three once compounding is included.

Why it matters The amendment makes several substantial changes to state policy on property-tax funding and voter referenda. It (a) creates a taxpayer-facing property tax transparency portal to be developed by the Department of Local Government Finance (DLGF), (b) folds elements of two other bills into SB 1 to change how referenda function statewide, (c) caps the maximum levy growth quotient (MLGQ) for three years, and (d) expands targeted property‑tax deductions and credits for seniors and disabled veterans. Proponents said the mix of provisions seeks to balance taxpayer relief with local government and…