HCS/HJRs 33 & 45 - This constitutional amendment, if approved by the voters, provides that the assessed value of the residential real property of a taxpayer used as a primary residence shall be equal to the same value determined at the most recent previous assessment of the property, or, if such property has been sold since the most recent assessment, shall be equal to the compensation paid to the seller of such property. The assessed value of such property shall be allowed to increase in subsequent reassessments provided that such increase does not exceed the percent increase in inflation or two percent annually, whichever is less. The assessed value may also be increased as a result of new construction or improvements made to such property. Notwithstanding such provisions, a taxpayers who has reached the age of sixty-five and who is an owner of record for the property and is liable for the payment of property taxes shall be exempt from any increases in the assessed valuation of such taxpayer's residential real property.
This joint resolution is similar to SJR 21 (2023), SJR 39 (2023), HJR 5 (2023), HJR 15 (2023), HJR 17 (2023), HJR 27 (2023), HJR 36 (2023), HJR 44 (2023), HJR 51 (2023), SS/SJR 41 (2022), HJR 98 (2022), SCS/SJR 23 (2021), HJR 66 (2022), HJR 90 (2022), HJR 126 (2022), HJR 7 (2021), HJR 33 (2021), and HJR 39 (2021).
JOSH NORBERG