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Bill Seeks to Show Homeowners Estimated Tax on a $100,000 Home to Reduce 'Sticker Shock'
Summary
Sponsor said HB 37 would require preliminary local operating budgets to include an estimated property-tax amount expressed as the tax on a $100,000 home so taxpayers can compare last year’s and this year’s tax levels more easily.
A bill introduced to increase property-tax transparency would require preliminary budgets to include an estimate showing property taxes for a $100,000 home, the sponsor told the committee. The sponsor described the change as a simple way to help homeowners compare last year’s and this year’s tax burden and reduce the ‘‘sticker shock’’ when people receive their statements.
The sponsor told the committee the requirement is intended for residential property only and is not meant to change existing mill-calculation processes. ‘‘The intent of this bill is to try and make it so when you get your tax statement, you get last year's with this year's,’’ the sponsor said, noting the $100,000 anchor lets residents approximate their expected charge.
Committee members asked technical questions about the calculation and whether capital outlay and other expenditures would appear in the estimate. Bryce Kotz, a bureau chief with the property assessment division, and other staff clarified that the bill uses existing preliminary-budget language and that some specialized components are not changed by this bill. The committee also confirmed the interim committee vote was unanimous.
The sponsor closed with the aim of giving residents a clearer point of comparison; the measure was sent from the hearing for committee consideration. No formal vote on HB 37 was taken at this hearing.
