IN HR0033

Urges the legislative council to assign study of property tax deductions for long-time homeowners in revitalized neighborhoods to the appropriate study committee.

Targets homeowners who are long-time owner-occupants of homestead property that experienced assessed value increases due to refurbishing, renovating, or new construction of other residences in designated distressed areas.

Addresses property tax increases for modest homestead owners in neighborhoods where property values have risen significantly due to revitalization efforts.

Proposes allowing counties, cities, and towns the option to provide property tax assessed value deductions to help long-time residents remain in their neighborhoods.