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Senate Finance walks through major property‑tax overhaul: regional assessment districts and new tax classifications
Summary
Committee reviewed H 9 55, which would create regional assessment districts (RADs), standardize reappraisal cycles, create RAD appeals boards, and introduce a three‑category tax classification (homestead, nonhomestead residential, nonhomestead nonresidential) with dwelling‑use attestations and a phased implementation through 2030–2031.
Senate Finance conducted an extended walkthrough of H 9 55, a broad rewrite of property valuation and tax classification rules that would create regional assessment districts (RADs), standardize parcel data collection, and move the state to a six‑year simultaneous mass reappraisal cycle. Presenter (S4) said the changes are intended to make valuation practices consistent across municipalities and to provide a uniform appeals process via RAD appeals boards.
Key details explained to the committee: - RADs: The bill creates a new subchapter and envisions initial boundaries being set after December 2029, with voluntary mass reappraisals until 2031 and mandatory regionalization thereafter. Presenter (S4) said the program will…
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