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New state law on sustainable-improvement exemptions raised for county consideration
Summary
The task force reviewed a recently signed state law allowing municipalities to exempt the assessed-value increase for qualifying sustainable property improvements from property tax assessments; the county will review the bill text and potential local implementation steps.
Task-force members discussed new state legislation, sponsored by Assembly member Dede Barrett and signed by the governor, that allows municipalities to exempt the value of certain qualifying sustainable improvements from property tax assessments if the municipality passes local enabling legislation.
A task-force member summarized the law: property…
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