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Committee advances bill to prevent stacking of property tax exemptions if voters approve initiative
Summary
Representative Tony Locke’s House Bill 147 would repeal an existing 25% homeowners exemption if a separate voter initiative enacting a 50% structure-only exemption for owner-occupied dwellings is implemented; the Department of Revenue’s fiscal note estimates a roughly $43 million revenue change per year under the modeled scenario. The committee gave the bill a do-pass recommendation.
Representative Tony Locke introduced House Bill 147 to the Senate Revenue Committee, saying the measure would repeal a current 25% property tax homeowners exemption in the event a voter-approved "people's initiative" that provides a 50% exemption on owner-occupied structures is enacted. "This is a simple bill," Locke said, describing it as a way to prevent the two exemptions from being stacked.
The bill drew questions from committee members about who might lose protections under the change and how the exemptions would interact. Senator Hyde asked…
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