H.B. No. 402 Summary

• Reduces property taxes for tax year 2023 on eligible real property by the amount that 2023 taxes exceed 2022 taxes for properties continuously owned by the same person from January 1, 2022 to December 31, 2023.

• Reduces manufactured home taxes for tax year 2024 by the amount that 2024 taxes exceed 2023 taxes for eligible manufactured or mobile homes meeting the same ownership continuity requirement.

• County auditors must certify reduction amounts to county treasurers within 15 days of the bill's effective date with no application required from property owners.

• Persons who already paid 2023 real property taxes or 2024 manufactured home taxes before the effective date shall have the full reduction amount deducted from their next tax payments.

• County treasurers certify total reduced tax amounts to the Tax Commissioner, who shall reimburse counties from the General Revenue Fund in the same manner as provided in existing statutory provisions.