Property Tax Modifications

Summary

The bill raises the portion of a home's fair market value that can be exempt from property tax from 45% to 60%, but only if a proposed constitutional amendment passes the legislature and is approved by voters. It applies to primary residential properties, limiting the exemption to one acre per unit and generally one home per household. The change would become effective on Jan. 1, 2027.

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

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