Summary
The bill caps future increases of property tax revenue to 5.5% per year. School districts and home-rule local governments are excluded from the cap. A local government may seek voter approval to waive the limit. The bill also reduces the valuation of commercial property from 29% to 25% (of the actual value of the property) over the next four years.
Legislative Update
- 2024-05-08 / Enrolled
Senate Considered House Amendments – Result was to Concur – Repass
House Third Reading Passed with Amendments – Floor - 2024-05-07
House Second Reading Special Order – Passed with Amendments – Committee, Floor
House Committee on Appropriations Refer Amended to House Committee of the Whole
Introduced In House – Assigned to Appropriations
This content is updated every Thursday, but is not a comprehensive list of updates. If you have questions regarding a specific piece of legislation, please contact Davis Graham partner, Sarah Kellner.