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Bill

LC 3701

Generally revise property tax laws

2025 Regular Session

Overhauls property tax rules, shaping assessments, exemptions, and collection, impacting homeowners, landlords, tenants, and local governments.

(LC) Draft Died in Process
#landlordandtenant #taxation--property #taxation
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Bill Summary · LC 3701

LC 3701 — Generally revise property tax laws

Overview

  • Bill number: LC 3701
  • Title: Generally revise property tax laws
  • Status: Draft (LC) — Died in Process as of 2025-05-23; previously On Hold (2025-01-16); Drafter Assigned (2024-12-14)
  • Introduced: December 14, 2024
  • Classification/Subject: bill focused on Landlord and Tenant, Taxation (Generally), and Taxation—Property

Notes: The available information confirms only the bill’s title, general subject area, and procedural status track. The actual text with specific provisions is not provided here.

Purpose and intent (based on title)

  • The bill aims to “generally revise property tax laws.” While the exact reforms are not shown, such measures typically seek to overhaul how property is assessed, taxed, and appealed, potentially touching ownership categories (e.g., homeowners vs. rental property), exemptions or deferrals, and the administration of property taxes.

Potential provisions a bill like this might include (not confirmed for LC 3701)

Because the text is not provided, the following are common areas in property tax reform that such a bill could address:
- Assessment methodology: criteria for determining property value, assessment cycles, use of market/value indicators, and adjustments for property type (owner-occupied vs. rental property).
- Exemptions and deferrals: eligibility criteria, caps, sunset provisions, or expansion/reduction of exemptions (e.g., homestead, senior, disabled, rehabilitated property).
- Appeals and resolution processes: timelines, notice requirements, and standards for challenging assessments.
- Tax rate structure and collection: uniformity rules, caps, or tiered rates; implementation timelines.
- Treatment of rental property and landlord-tenant issues: taxation of rental properties, pass-through of tax changes to tenants, or specific protections/obligations for landlords.
- Transitional provisions: phased implementation, grandfathering of existing assessments, or temporary measures during the transition.
- Revenue impacts and fiscal notes: estimates of how reform would affect state/municipal revenue and property tax administration costs.
- Administration and definitions: clarifications of terms, agency responsibilities, and coordination with local assessors and treasurers.

Who would be affected

  • Property owners, including homeowners and landlords with rental properties
  • Tenants, indirectly, through potential impacts on rents or housing policy
  • Local governments (assessors, tax collectors, and municipalities)
  • Real estate developers and investors
  • Tax policy professionals and legal/financial advisers

Procedural history and timeline

  • Introduced: December 14, 2024
  • Drafter Assigned: December 14, 2024
  • On Hold: January 16, 2025
  • Draft Died in Process: May 23, 2025
  • Current status indicates the proposal did not advance in its current form during the session; future reintroduction or revision in a subsequent session is possible.

Next steps / how to monitor

  • For precise provisions and definitive impacts, access to the bill text is required. If you can share the full bill text or a link, I can produce a detailed, provision-by-provision summary.
  • If monitoring this bill, check the legislative docket or the official bill tracking site for LC 3701 for any revival, amendments, or companion bills.

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

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