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Council hears state legislative update on House Bill 1116 property-tax provisions
Summary
Councilor Peppers briefed the council on House Bill 1116 (Homeownership Market Equalization Act of 2026), which would cap local property-tax revenue increases at 3% (or CPI) and create a local homestead-offset sales tax option; he cautioned about implications for bond ratings and noted the bill requires mailed notice to taxpayers before hearings that would exceed the rollback rate.
Mister Peppers (speaker 11) gave a legislative briefing on House Bill 1116, the Homeownership Market Equalization Act of 2026, and outlined how it could affect Canton and other local governments.
Peppers summarized the bill’s core provisions: it would restrict local governments from adopting budgets that increase property-tax revenue by more than 3% or the rate of inflation (CPI), whichever is…
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