Proposes a constitutional amendment relating to residential real property tax assessments

Summary

The joint resolution would replace Section 4(b) of Article X with new language that caps the assessed value of all property at no more than one‑third of its true value. For residential real estate, the assessed value would stay at the most recent assessment unless inflation or improvements justify a modest increase. The change targets homeowners, farmers, businesses and other property owners to restrain tax increases.

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