House adopts conference report on property tax cap, settles on 4% annual cap

The House adopted the joint conference committee report on House Bill 45, which sets an annual cap on property tax increases and resolves earlier disagreements between the chambers.

Chairman Craig O. presented the report and explained the compromise: the House had proposed a 5% cap and the Senate amended to 3%; conferees met in the middle at 4%. The report also removed language regarding additional outbuildings (sheds) that had been proposed on third reading because committee testimony suggested administration would be difficult. Chairman Craig said typographical errors were corrected and conferees agreed to the 4% compromise.

Representative Yen questioned whether 4% would fall below average inflation rates; Representative Locke cited median household income trends and supported the compromise. Representative Crago confirmed substantive language on mobile homes and effective dates had not changed: the effective date for buildings remains Jan. 1, 2024, and beginning in 2025 the associated land is included.

The House voted to adopt the conference committee report; the clerk recorded 60 aye, 1 no, 1 excused. By that vote the House adopted the report and the compromise cap became the House-adopted position for enrollment.

Ending: The conference report's adoption sets the final compromise for the property tax cap and clarifies program scope and effective dates for structures and associated land.