Plain English Breakdown
The bill summary does not provide specific details about the effective date or applicability beyond January 1, 2027.
Assessment of Property Used for Residential Purposes
This bill stops property tax assessors from considering increases in a home's value due to improvements made to protect the house against wind damage, starting January 1, 2027.
What This Bill Does
- Creates a new law that says when homes are being assessed for taxes, any increase in their value because of changes to make them stronger against wind cannot be included.
- Lists specific types of improvements that count as making a home more resistant to wind damage, like better roof connections and storm shutters.
Who It Names or Affects
- Homeowners who make their houses stronger against wind damage will not see those improvements increase their property taxes starting January 1, 2027.
Terms To Know
- Just value
- The fair market value of a property used to determine its assessed value for tax purposes.
- Assessed value
- The official valuation placed on a property by the government, which is used to calculate property taxes.
Limits and Unknowns
- This bill does not apply to changes made before January 1, 2027.
- It only affects properties used for residential purposes.