Lead Sponsors: Representative Jean Schmidt
Status: First hearing in House Ways and Means (May 21, 2025)
Description: The bill creates a temporary property tax freeze by reducing the property taxes due for every piece of real property owned continuously by the same person between January 1, 2022, and December 31, 2024. The reduction is equal to the amount by which the calculated taxes due for 2024 exceed the taxes paid in 2022.
The bill does not include a mechanism to reimburse local taxing entities for lost revenue due to the temporary freeze.
CCAO Position: CCAO is supportive of the bill's concept but generally opposed to property tax credits that are not reimbursed.