House Bill 717 Summary

• Shifts burden of proof to county assessor when taxpayer introduces evidence that property assessment is not accurate representation of fair market value; assessor may rebut only with clear and convincing evidence and cannot rely solely on ratio studies or general analyses.

• Applies burden of proof shift to both county board of equalization proceedings and appeals to board of tax appeals or district court.

• Allows prorating of homestead exemption when property's eligibility status changes during tax year, with adjustment methods varying based on whether change occurs before or after specific deadlines (second Monday of July and fourth Monday of November).

• Maintains homestead exemption at first $125,000 of market value or 50% of market value, whichever is lesser, and includes provisions for military service absences and owner death.

• Effective January 1, 2025.