Property Tax Reform Update

There was no movement this week on property tax reform, but we must remain engaged in our opposition to HF 2274. ISAC strongly encourages you to continue to talk with your legislators about the financial impact of the bill, including the commercial and industrial rollback, and revenue limitations that would significantly restrict local government budgeting authority. HF 2274 provides backfill for the loss in property tax revenues, but it’s not enough to replace the loss. There’s also concern that the backfill won't be fully funded in future years.

The Senate Democrats appear to be holding firm in opposition to HF 2274, and the expectation is that they will propose the creation of a business property tax credit.

Return to this week's ISAC Update.