Assessors tell committee excluding LIHTC from valuations could create unequal treatment
Summary
A representative for assessors of property testified that HB753 would undermine standard valuation practice, could create unequal treatment among taxpayers across tax years, and cited prior appeals court consideration of valuation and credits.
Will Denami, speaking for assessors of property, told the House Government Operations Committee that House Bill 753 would "do an end run" around established valuation practice and give unequal treatment to taxpayers. Denami said assessors value property by considering what a willing buyer would pay and that rent restrictions tied to federal credits factor into market value.
Denami said a 2002 appeals-court review considered the issue of value and that prior versions of similar measures showed larger revenue losses in some localities. He told members the bill would in effect direct assessors to ignore rent restrictions that buyers would include in value calculations.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
