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Committee briefed on House Bill 335’s limit on inside‑mill growth and local revenue effects
Summary
Finance staff described how House Bill 335 (effective March 2026) limits growth in the inside millage to a three‑year inflation metric, which would have reduced the 2024 reassessment increase and affects future revenue projections.
Jennifer briefed the committee on House Bill 335 and its local revenue implications, saying the law (effective March 2026) changes how inside millage growth is calculated and would have reduced the apparent boost from recent reassessments.
"The house bill 3 35 was, effective March '26, and it impacts our inside millage," Jennifer said, describing that the bill limits increases going forward to a three‑year inflationary measure rather than tracking assessed value growth. She added that in 2024 the city saw a substantial average assessed‑value increase (about 29%) and that HB 335 would have trimmed the inside‑mill increase that resulted from that reassessment. Committee members noted voted mills (for example, the fire levy) are unaffected because those are fixed by the vote.
