AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

Summary

HB 7373 revises the state’s property tax code to add many new categories of property that are exempt from local taxes, including specific nonprofit, religious, educational, veteran, and renewable‑energy assets, and it lets towns and cities grant additional exemptions by ordinance. It also requires that when property normally exempt—such as a healthcare or college facility—is leased to a non‑exempt user, the tenant is treated as the owner for tax purposes, and it sets how for‑profit hospitals are valued for taxation. The changes affect local assessors, nonprofit groups, hospitals, manufacturers, and municipalities.

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