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House panel debates HB528 to reset property tax rates; sponsors say it restores fairness, critics warn of state revenue loss
Summary
HB528 would lower state property-tax rates and adjust class multipliers to rebalance taxable values after recent reappraisals. Proponents said it returns rates toward 2021 levels and relieves homeowners and farms; opponents warned it would reduce state revenue and shift burden to local governments and require general‑fund backfill.
Representative Edward Byrne introduced House Bill 528 to the House Taxation Committee, proposing a set of changes to state property‑tax rates and class multipliers that sponsors said would re‑equalize taxable values and relieve homeowners, small businesses and farms.
Byrne described rate reductions across property classes (including a reduction of certain multipliers and residential rate adjustments) and added language clarifying class 3 (agricultural) treatment. Supporters…
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