Constitutional amendment to limit the annual growth in the amount of property taxes levied by political subdivisions

Summary

The amendment would restrict how much a political subdivision can raise its total property tax bill each year, allowing only an increase equal to 2% plus the subdivision’s real growth percentage. Real growth is calculated from new construction, improvements, annexations, changes in use, and personal property value gains. It would take effect on Jan. 1, 2027 if approved by voters.

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