Property tax: assessments; uncapping of taxable value for certain transfers of property owned and used as a principal residence; eliminate. Amends sec. 3, art. IX of the state constitution. TIE BAR WITH: HJR T'26

Summary

The resolution changes Article IX, Section 3 of the state constitution so that a principal residence does not have its taxable value reset to current market value when it is transferred after Dec. 31, 2025. Instead, the home stays under the existing yearly cap on taxable‑value increases as long as it remains the owner’s primary residence. If the property stops being used as a principal residence, it will then be reassessed at market value.

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