Real property; effect on rate when assessment results in tax increase, consideration of inflation.

Summary

The bill requires counties, cities and towns to keep any increase in total property tax revenue to no more than 101% of the prior year after removing inflation‑driven value gains. It also mandates detailed mailed notices to owners and a public hearing before a higher rate can be adopted. The aim is to protect homeowners from tax increases that are not tied to real value growth.

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

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