First-time home buyers would get a 50 percent property tax break on the value of their home. Voters would decide whether to cap property tax assessment increases for commercial properties at 5 percent.
save our homes
Property Tax Reform: 50% Exemptions, Breaks for Investors, Losses for Local Governments
Supporters of the overhaul say it’ll fill up empty homes. Critics say it’ll also slash local government revenue and further shift the tax burden to current residents, exacerbating inequities.