Transcript Highlights:

• market value of all taxable property market value of all taxable property except<00:01:57.960>
• <00:05:10.520> the Value property and deter determine the Value property and deter determine
• values, especially lakeshore property values.
• values, especially lakeshore property values.
• values, especially lakeshore property values.

Keywords: 1187, senate, all

Transcript Highlights:

• a report on property values and trends. a report on property values and trends.
• <00:37:46.240> values<00:37:46.480> and their property values and their property values
• in value for these types of properties. in value for these types of properties.
• Uh others value in residential property.
• homestead market value exclusion because the properties were valued too highly.

Keywords: 1187, senate, all

Transcript Highlights:

• The story here is just the increase in property values overall.
• That applies to value of the property between 50 and 75.
• That applies to value of the property between 50 and 75.
• The taxable value is very low relative to what the market value of the property is.
• So relative to real property and tangible personal property, the centrally assessed property value is

Summary: The Senate Committee on Finance and Tax met to hear a staff presentation on Florida property taxes. Staff Director Azar Khan gave an overview of the property tax system, including constitutional limits, January 1 assessment rules, homestead and non-homestead residential property, commercial and agricultural classifications, tangible personal property, and centrally assessed property. The presentation highlighted major exemptions and assessment caps, such as the homestead exemptions, Save Our Homes, the 10% cap for non-homestead property, and favorable treatment for agricultural/classified use land. It also reviewed long-term growth in just value and taxable value statewide, along with declining millage rates over time as taxable values have risen. Members then discussed the possibility of eliminating property taxes and the fiscal consequences of doing so. Senator Jones asked about the impact on local governments and referenced estimates that replacing property tax revenue could require roughly $43 billion; staff responded that current levied amounts are in the ballpark of more than $30 billion for non-school levies and more than $20 billion for school levies, but that the exact impact would depend on county and district budgets and collections. Senators Bernard, Passidomo, Gates, and others emphasized the need for more data on alternative revenue sources, such as sales tax increases or other combinations, and for input from counties and cities before considering broad tax changes. Chair Avila explained the presentation was intended to give members a foundation before property tax proposals are heard in committee, noting that several bills had already been filed involving homestead and tangible personal property. No bills were voted on, and no formal action was taken beyond the informational presentation. The committee then adjourned.

Transcript Highlights:

• It's it's a it's the just value or the market value of the property.
• The story here is just the increase in property values overall.
• If you're value of the property goes up 10%.
• The taxable value is very low relative to what the market value of the property is.
• So relative to real property and tangible per personal property, essentially assess properties values

Keywords: 999, senate, all

Transcript Highlights:

• All property must be appraised at market value as of January 1.
• The school district property value study does not change values at the local level.
• due to property values being lower than market value.
• The next slide shows taxable value by category of property.
• You're taxing 43% of homesteads, 93% of property value.

Transcript Highlights:

• All property must be appraised at market value as of January 1. Market value is defined...
• The school district property value study. does not change values at the local level. in our school district
• property value study cycle.
• due to property values being lower than market value.
• You're taxing 43% of homesteads, 93% of property value.

Keywords: 1184, house, all

Transcript Highlights:

• by the value of an individual property by the value of an individual property to<00:08:16.759>
• A property that's valued under $500,000 just has one rate at 1%, but properties valued over that amount
• A property that's valued under $500,000 just has one rate at 1%, but properties valued over that amount
• value of commercial property $150,000 of value of commercial property is<00:16:08.959> not<00
• <00:20:49.520> generally property value per capita and generally property value per capita

Keywords: 1183, house

Summary: The House Tax Committee met to hear a House Research presentation from Jared Swanson on Minnesota’s property tax system. Before the presentation, the chair announced that the committee would put the governor’s budget on hold until the department could provide the information needed for a proper hearing. The committee then approved the prior meeting minutes without objection. Swanson gave an overview of how property taxes are structured and collected in Minnesota, explaining that the state uses a levy-based system in which local governments set levies and counties collect and distribute payments. He described the property tax cycle, the difference between referendum market value and net tax capacity, and how classification rates shift tax burdens among property types. He also outlined the state general property tax, noting it is split between commercial-industrial property and seasonal recreational property, and reviewed how Minnesota compares with other states, with residential taxes generally around the middle and commercial-industrial taxes relatively higher. The presentation also covered major property tax relief and aid programs. Swanson explained three broad relief mechanisms: shifting burdens through exclusions and classification rates, state-paid credits and refunds, and state aid to local governments or levy reductions. He discussed local government aid (LGA), township aid, and county program aid (CPA), including their funding levels, formulas, and general-purpose nature. Members asked why some cities receive no LGA and how the funds may be used; Swanson said cities with strong tax bases often receive zero aid and that the money generally can be used for the same purposes as property tax revenue. No votes were taken on the presentation itself.

Transcript Highlights:

• And so that's what we're doing: we're valuing these properties as a whole, and the state does that on
• <00:54:32.200> these appropriate method to Value these appropriate method to Value these properties
• properties were valued, and they're valued every six years by the county assessors.
• Madam Chair, um, so the next time those properties will be valued is 2028, and that the value in 2028
• The next time those properties will be valued is 2028, and the value in 2028 may not be below what the

Keywords: 1187, senate, all

Transcript Highlights:

• Ad valorem literally means according to value and is taxed based on the value of the taxed property.
• According to value, and is taxed based on the value of the taxed property.
• according to value, and is taxed based on the value of the taxed property.
• The assessed value is the value of the property after applying any assessment limitations.
• Taxable value is the assessed value of a property, less any applicable exemptions.

Summary: The Select Committee on Property Taxes held its first meeting with opening remarks from the co-chairs and ranking member framing the committee’s task as developing property tax legislation for next session. Staff then gave a high-level overview of Florida property taxes, explaining how ad valorem taxes work, the roles of property appraisers, tax collectors, taxing authorities, value adjustment boards, and the Department of Revenue, and reviewing key concepts such as just value, assessed value, exemptions, taxable value, millage rates, homestead exemptions, Save Our Homes, and portability. The presentation also emphasized that property tax law is largely rooted in the Florida Constitution and that local governments choose millage rates, which affects collections. No public comment was taken. The committee then discussed five Speaker-proposed concepts. Proposal 1 would require cities, counties, and special districts to hold a referendum on eliminating property taxes on homestead properties; members raised concerns about local funding, public safety, special districts, renters, and the need for extensive voter education, with some suggesting countywide elections or town halls instead. Proposal 2 would create a new $500,000 homestead exemption for non-school taxes and a $1 million exemption for seniors 65+ or long-term homesteaders; members split between seeing it as meaningful relief for seniors and warning it could devastate local tax bases, especially in lower-value or rural counties, while also potentially trapping older homeowners in place. Proposal 3 would authorize the Legislature to raise homestead exemptions by general law; some liked the flexibility, but others worried about statewide one-size-fits-all impacts, political difficulty in reversing changes, and the need for local revenue replacement. Proposal 4 would change assessment caps for homestead and non-homestead property; several members said it would not provide enough relief and could shift burdens to rental properties and non-homestead owners. Proposal 5, eliminating foreclosure on homestead property for tax liens, drew the strongest opposition, with members saying it would undermine lien priority, mortgage and title systems, and incentives to pay taxes. Throughout the meeting, members repeatedly stressed the need to understand local fiscal impacts, including police, fire, infrastructure, and other services funded by property taxes, and to consider alternative revenue sources or offsets if taxes are reduced. The co-chairs said the committee is still in the information-gathering stage, that all ideas remain on the table, and that members should do “homework” by meeting with local taxing authorities and learning how property taxes are set and spent in their districts. The meeting ended with no votes on the proposals and adjournment after a motion to rise.

Transcript Highlights:

• And I think it's particularly important because of the COVID values in personal property.
• So with a higher assessed value, if the personal property would go up, with a higher assessed value,
• You could stop using AI to inflate property values.
• These are, I don't know... ...could stop using AI to inflate property values.
• we have our assessments based on our value of our property.

Keywords: 959, house, all

Transcript Highlights:

• is why we restrictions on the properties is why we have<00:08:25.919> a<00:08:26.160> value
• value of each parcel. value of each parcel.
• So years ago when these properties were acquired, they've increased in value over the years.
• So years ago when these properties were acquired, they've increased in value over the years.
• . properties. properties.

Keywords: 1189, house, all

Summary: The committee approved the minutes from its September 29 meeting and then took up a series of Department of Transportation and Department of Administrative Services property actions. Several DOT items involved disposal of land originally acquired for the now-dissolved Conway bypass or other highway projects, including a 445.6-acre Conway parcel proposed for sale to the town of Conway for conservation use, a 1.78-acre Chesterfield parcel for sale to an abutter, a 6.13-acre Madison parcel tied to the Conway bypass, and a bulk disposal package of 22 improved parcels in Merrimack, Litchfield, and Hudson. Members asked about appraisals, conservation easements, federal funding restrictions, tenant occupancy, and whether the state would recover its original investment; DOT said values were based on appraisal or market analysis, federal reimbursements may be required where federal funds were used, and proceeds from turnpike-related property would return to the turnpike fund. All of these disposal motions were approved. The committee also approved several DOT lease/easement items. These included a Greenfield railroad-corridor lease for equestrian use, a Lake Winnipesaukee dock lease to CE Realty Trust, a similar dock lease to Needle Eye Association, and an easement in Carroll for Industrial Wireless to build a private road and cross Mount Deception Brook for a cell tower project. Members focused on maintenance responsibilities, liability insurance, access limitations, fencing, and the relationship between the railroad corridor and adjacent uses. DOT said lessees would be responsible for maintenance, access to the railroad would be restricted, and liability insurance would be included where appropriate. The committee also approved a separate easement for Eversource in Rochester to install utility lines serving the new courthouse, with the department explaining that the easement is a narrow strip needed to complete construction. The Department of Administrative Services received approval for a use-of-premises agreement allowing Rockingham County to lease 300 square feet in the Brentwood courthouse for office space, and for a perpetual utility easement in Rochester for Eversource, with a waiver of the administrative fee. The committee also heard that the Rochester courthouse project needs the utility work to finish construction. Throughout the meeting, members repeatedly asked about insurance, public access, valuation, and whether tenants or abutters would have first opportunity to buy or lease the affected properties. All motions before the committee were adopted.

Transcript Highlights:

• <00:07:21.919> your<00:07:22.160> property leave it value you prop your property leave
• value on all those vacant properties value on all those vacant properties anyway<00:14:35.399>
• Commercial and industrial properties represent 11% of the market value but pay 25.5% of the net property
• under<00:26:03.640> a loss of property tax value under under a loss of property tax value
• value is going up as we do a property value is going up as we do a lot<00:26:40.080> more<00:

Keywords: 1183, house

Transcript Highlights:

• So, the value of real real property.
• <00:28:47.840> is property to come to a value, which is property to come to a value, which
• You just found a way to increase the value in your property. >> just the value in your property.
• >> just the value in your in your property.
• value<01:20:07.240> that's<01:20:07.480> being And that property tax value that's

Keywords: 1189, house, all

Summary: The meeting opened with a quorum present and approval of the April 17 minutes. The commission then heard a presentation from attorney Jacob Rhodes of Cleveland, Waters and Bass on the history and legal basis of New Hampshire’s timber tax, explaining that timber was historically treated as part of real property, that a 1913 case confirmed that view, and that a 1949 constitutional amendment created a separate timber yield tax to discourage clear-cutting and support forest conservation. He described the tax as a tax on the yield when timber is severed, not an income tax, and noted that towns are reimbursed through a system based on Department of Revenue Administration market data and local reports of cut. Members and guests asked how “yield” is defined, how the timber tax interacts with current use, and whether carbon sequestration could be treated similarly. Testimony explained that current use generally is not affected by harvesting timber, that towns can tax standing timber under RSA 79:5 but rarely do because it is labor-intensive, and that carbon credits might be valued using a similar market-data approach. Several speakers discussed a prior bill drafted with DRA input that would have treated carbon more like timber, but noted it never fully advanced in the General Court and that the version ultimately discussed by the House differed from the earlier DRA-comfortable draft. The discussion also covered whether carbon sequestration agreements are effectively long-term leases or transfers of timber rights, with Rhodes suggesting that 99-year arrangements could be taxable transfers of real property under DRA rules, though he had not reviewed specific agreements. DRA staff said they do not currently have a timber-like survey mechanism for carbon and would likely need access to proprietary market data or a subscription service to build one. No formal vote was taken beyond approving the minutes; the commission appeared to agree to revisit the carbon/timber valuation issue and the draft bill at a future meeting.

Transcript Highlights:

• value of the property. value of the property. um<00:05:35.120> over<00:05:35.440> to
• the fair market value of that property the fair market value of that property on<02:37:38.640>
• > or property values are increasing or property values are increasing or decreasing.<02:39:18.000
• the lower value properties onto the lower value properties<02:56:28.640> that<02:56:28.800>
• > that's fair value, but the the property that's fair value, but the the property that's gone<

Keywords: 916, all

Transcript Highlights:

• About 440 of these properties, or 45% of all Class 1C properties, have taxable market value exceeding
• About 440 of these properties, or 45% of all Class 1C properties, have taxable market value exceeding
• of 813 million about 440 of market value of 813 million about 440 of these<00:03:51.959> properties
• market value properties have taxable market value exceeding<00:03:57.200> the<00:03:57.400>
• Our property tax, as Joel had said, is valued not on our business or what our business value is, but

Keywords: 1187, senate, all

Transcript Highlights:

• The statutory mandate is to value property at market value, so assessors should look at market data.
• the value of an assessed property.
• to defend the value of an assessed<00:12:54.720> property.
• The fair and equitable value of a property is the cornerstone of the Minnesota property tax system.
• Um appraisal uh, value of a property?

Keywords: 1183, house

Transcript Highlights:

• value of real property allow uh for the value of real property subject<00:40:28.760> to<00:40
• minimized property values um if assessed minimized property values um if assessed against<00:49:
• <00:52:10.799> not their property value SF 2199 will not their property value SF 2199 will
• <00:53:17.960> value easement may impact the property value easement may impact the property
• and<00:59:38.680> I the value of these properties and I the value of these properties

Keywords: 1187, senate, all

Transcript Highlights:

• The program provides a property tax benefit to qualifying veterans by reducing the value of their home
• In that time, I'm sure we all are aware that property values of homes and homesteads have increased dramatically
• aware that property values of home and aware that property values of home and homesteads<00:02:10.520
• a look at every single property in these counties, what their assessed value is, and how much would
• <00:10:47.120> through Property values, it's going through the roof in Olmsted County.

Keywords: 1183, house

Transcript Highlights:

• or shifts or increases in some values or shifts or increases in property<00:02:34.640> taxes<
• taxes that value from basically property taxes that value would<00:12:50.000> be<00:12:50.160
• <00:15:46.800> County<00:15:47.079> alone value uh properties in Cass County alone
• value uh properties in Cass County alone seasonal<00:15:48.000> wreck<00:15:48.279> is<
• that a property can increase in value that a property can increase in value one<00:37:34.920>

Keywords: 1183, house

Transcript Highlights:

• When they see an increase in taxable value, they think their property tax is going up.
• and, you know, taxable value is where your property tax starts and why it goes up.
• What I'd say about the taxable value, or the valuation in general, the value of your property on an equalized
• Property values were declining.
• that property tax burden because the values of the ag land are lower.

Summary: The subcommittee of the Tax Reform and Relief Committee met to begin its study of the feasibility and desirability of revising the content of the real estate tax statement to improve property tax transparency. Legislative Council staff reviewed the study directive under House Bill 1176 and the statutory requirements for tax statements, including required line items such as true and full value, mill levy, legislative tax relief, primary residence credit, and the Legacy Fund portion of that credit. The Tax Department then explained how the current uniform statement is prescribed and approved, and noted that changes are typically driven by statute and implemented collaboratively with counties and vendors. County officials from the North Dakota Association of Counties described the full annual tax cycle, from county budgeting and valuation notices to budget hearing notices, levy certification, cap calculations, and final tax statement mailing. They emphasized that counties and auditors do extensive coordination with taxing districts and neighboring counties, and that the process is labor-intensive and often manual. Members discussed the limited public response to budget notices and tax statements, the difficulty of explaining the legislative tax relief line, the 3% cap and valuation issues, and whether more frequent assessments or different timing would improve understanding. Several members and witnesses noted that many taxpayers only engage when they receive their final bill, and that clarity may be more important than adding more detail. NDACO also presented a rough cost survey from eight counties, estimating an average tax statement cost of about 74 cents and a statewide total near $600,000 for printing and mailing tax statements alone, with outsourcing generally cheaper than in-house printing. Witnesses noted that House Bill 1176 added other mailings and notices, increasing county workload and cost beyond the statement itself. The committee then heard from software vendors, who explained how their systems handle tax billing, budget notices, valuation notices, primary residence credit processing, and tax levy calculations, and they identified the 1600/1685 primary residence credit and discount interaction as a current programming challenge. No votes were taken; the meeting was informational and focused on gathering testimony and identifying issues for possible future recommendations or bill drafts.