Bill
HB 5697
Overview: HB 5697, "AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES", was introduced on April 30, 2025 and is currently in committee for further study.Purpose and
Overview: HB 5697, "AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES", was introduced on April 30, 2025 and is currently in committee for further study.
Purpose and Intent: The bill aims to reform the system of local taxation, with the goal of providing more equitable and efficient revenue generation for local governments.
Key Provisions:
- Requires all local governments to conduct regular property value assessments, at least once every 3 years
- Establishes a statewide property tax assessment appeals process
- Caps annual increases in property tax levies to 2% or the rate of inflation, whichever is lower
- Allows local governments to levy a local sales tax of up to 1% with voter approval
Affected Parties and Impacts:
- Local governments would be required to change their property assessment and tax levy practices
- Homeowners and businesses would be impacted by changes to property tax assessments and levies
- Consumers in localities that adopt a local sales tax would pay slightly higher sales tax rates
Procedural and Timeline Considerations:
The bill is currently in committee for further study, with no definitive timeline for a vote or enactment.
Compiled from official sources — confirm details with the bill’s official record.
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