Relates to the formula for the real property tax cap

2025 Regular Session Introduced by Andrew Molitor

A 4419 would change how the real property tax cap is calculated, altering limits on property tax increases for local governments and affecting homeowners, taxpayers, and schools.

REFERRED TO LOCAL GOVERNMENTS

Summary: Bill A 4419 — Relates to the formula for the real property tax cap

What this bill is about

The bill is titled to address “the formula for the real property tax cap.” While the exact text is not provided here, the bill appears to seek changes to how the real property tax cap is calculated at the local government level.

Sponsor: Andrew Molitor (primary).

Key details

Bill number: A 4419

Title: Relates to the formula for the real property tax cap

Status: Referred to Local Governments

Introduced: February 4, 2025

Legislative actions:

2025-02-04: REFERRED TO LOCAL GOVERNMENTS (listed twice on the actions)

Related bills:

A 6401 (prior-session)
S 1635 (companion)

What the bill aims to do (inferred from title)

The bill would modify the formula used to determine the real property tax cap. The real property tax cap typically sets a limit on how much property tax levies or bill amounts can increase in a given year, often tied to factors such as inflation, the local non-residential tax base, or other tax policy variables.

The exact changes to the formula (e.g., what variables are used, how they are weighted, the cap thresholds, exemptions, or sunset provisions) are not specified in the provided information. The bill’s text would spell out the precise mathematical or regulatory changes.

Who would be affected

Local governments: municipalities and other local taxing jurisdictions whose property tax calculations rely on the cap formula.

Property owners and taxpayers: homeowners and business property owners whose tax bills are influenced by the cap.

Tax assessors and local budgeting offices: entities responsible for calculating levy limits, preparing tax rolls, and presenting budget impacts under the cap framework.

Schools and local districts: if the cap affects revenue calculations for local funding, they may see implications for budget planning.

Procedural and timeline aspects

Status: Referred to the Standing Committee on Local Governments.

Next steps: The bill would proceed to committee consideration, potential amendments, and, if advanced, floor consideration in the chamber. If passed, it would move to the other legislative house as applicable (and may have a companion in the Senate, as indicated by S 1635).

Related activity: Companion bill S 1635 suggests cross-chamber alignment; A 6401 is noted as a prior-session related bill, which may influence the current discussion or carryover provisions.

Additional notes for readers

The text of A 4419 (the specific proposed changes to the formula) is not included in the provided information. To understand the exact impact, review the bill’s full language, fiscal impact statement (if any), and any sponsor memos.

To track progress: monitor committee hearings in Local Governments, subsequent amendments, and any floor votes. Check for the companion S 1635’s progress for parallel developments in the Senate.

If you’d like, I can compare A 4419 to its related bills (A 6401 and S 1635) once the full text is available and summarize any substantive differences or similarities.