AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

Summary

The law amends the state’s property tax code to add dozens of new categories of property that are no longer subject to local taxes, including lands owned by the state or the federal government, religious and charitable holdings, schools, veterans groups, manufacturing equipment, and more. It sets specific size, value and usage limits for many of those exemptions and requires local assessors to follow new rules. The changes take effect immediately upon enactment, without the governor’s signature.

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