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House considers bill clarifying how low-income housing tax credits and covenants affect property valuation
Summary
House Bill 87 asks the Legislature to clarify whether low-income housing tax credits and long-term rent-restrictive covenants should be treated as intangible for property-tax appraisal; debate focused on appraisal methods and whether the credit should be included in property value.
Representative Snow sponsored House Bill 87 to clarify whether low-income housing tax credits and long-term restrictive covenants should be treated as intangible elements when appraisers assess property value for property tax purposes. Snow told members that assessors and the appraisal standards board are split on…
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