Assessed Value of Nonhomestead Property

Summary

The joint resolution would amend the state constitution to limit how much the assessed value of non‑homestead real property can rise each year, using the lower of a 3% increase or the change in the Consumer Price Index. It would affect owners of rental, commercial and other non‑homestead properties by potentially slowing the growth of their ad valorem tax bills. The measure failed, dying in the Ways & Means Committee.

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