A proposal capping property tax assessments moved out of a Senate committee Wednesday as the Legislature takes its first steps toward addressing property taxes ahead of this year's elections.
The Senate tax committee approved a constitutional amendment that would cap the taxable assessed property value at 3% with several limited exceptions, including new construction or improvements and if there is an error calculating the tax assessment.
The cap would remain with the property if it's sold or transferred.
For tax year 2027, the final taxable assessed value of . . .
SSJ
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