Relating to property tax exemption for affordable multiunit housing; prescribing an effective date.
Catchline/Summary:
Authorizes city or county to establish schedule in which, for 10 years, percentage of property tax exemption granted to affordable multiunit rental housing increases directly with percentage of units rented to households with annual income at or below 120 percent of area median income. Authorizes city or county to establish schedule in which, for 10 years, percentage of property tax exemption granted to affordable multiunit rental housing increases directly with percentage of units rented to households with annual income at or below 120 percent of area median income.
Takes effect on 91st day following adjournment sine die.
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HB 2705 Joint Committee On Tax Expenditures
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