Committee approves House Bill 2745 with protest-petition and distribution amendments
The Committee on Taxation advanced House Bill 2745, a property-tax relief package that sets a 3% growth cap with specified exclusions, creates a $60 million relief fund distributed proportionally to eligible taxing jurisdictions, and replaces a straight election trigger with a protest-petition process (10% threshold of votes in the last presidential election).
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The Committee on Taxation voted to report House Bill 2745 favorably after adopting several amendments that reshape how local property-tax increases are constrained and how a $60,000,000 relief appropriation would be distributed. The bill would require elector approval for year-to-year increases in property-tax revenue above a 3% baseline while creating a property-tax relief fund to transfer money to counties and eligible taxing jurisdictions.
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