Cities and towns; requiring compensation to certain property owners in certain circumstances. Effective date.

Summary

The bill requires cities and towns to financially compensate property owners when a reversion ordinance changes zoning back to a prior designation and that change reduces the property's value. Compensation is the difference between the property's appraised value before the reversion and after it. The measure is intended to protect owners from loss caused by municipal zoning actions.

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

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