CAP RESIDENTIAL PROPERTY TAX RATES

Summary

The bill caps how much a residential property's assessed value can rise each year—either 103% of the prior year’s value or 106.1% of the value two years earlier. It applies to homeowners statewide, but the cap does not apply after a sale, a zoning change, or certain improvements (except solar systems). The goal is to slow tax growth while still allowing market‑driven reassessments in specific situations.

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

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