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HB 5030

AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

2025 Regular Session Introduced by Kathleen Fogarty and 3 co-sponsors

HB 5030 - AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES OverviewBill Number: HB 5030 Title: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

04/18/2025 Effective without Governor's signature
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Bill Summary · HB 5030

HB 5030 - AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Overview

Bill Number: HB 5030
Title: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES
Status: Effective without Governor's signature (04/18/2025)
Introduced: March 13, 2025

Purpose and Intent

The primary purpose of HB 5030 is to reform the system for levying and assessing local taxes within the state. The bill aims to provide more flexibility and autonomy for local governments in setting tax rates and policies, while also establishing greater transparency and consistency in the overall taxation process.

Key Provisions

  • Grants counties and municipalities the authority to levy and assess a wider range of local taxes, including sales tax, property tax, and various excise taxes
  • Requires local governments to hold public hearings and obtain voter approval before implementing new or increased local taxes
  • Establishes uniform standards and procedures for property tax assessments, including regular revaluations and appeals processes
  • Caps the annual growth rate for local property tax levies at 3%, with exceptions for new construction and voter-approved increases
  • Creates a state-level Local Tax Review Board to oversee local tax policies and resolve disputes between jurisdictions

Affected Parties and Impacts

  • Local governments (counties, cities, towns) will have more flexibility in setting tax rates and policies to meet their revenue needs
  • Taxpayers (residents and businesses) may see changes in their local tax burdens, depending on the decisions of their local governments
  • The state government will have a new oversight role through the Local Tax Review Board to ensure consistency and fairness in local taxation

Procedural and Timeline Considerations

HB 5030 was passed by the state legislature and became effective on April 18, 2025, without the Governor's signature. Local governments now have 6 months to review their existing tax structures and hold public hearings on any proposed changes. The first round of new or revised local tax policies are expected to take effect on January 1, 2026.

Compiled from official sources — confirm details with the bill’s official record.

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