Affordable Housing Property Tax Exemption

Summary

The bill would allow a county’s governing body, by a two‑thirds vote, to choose not to give property‑tax exemptions to affordable‑housing units if the county meets a specific housing‑supply test. It also guarantees that owners of already‑exempt multifamily projects, or those with a final site‑plan approval within a year before the vote, can keep or obtain the exemption. The changes would take effect for the 2027 tax roll.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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