HF 2577: Relating to property taxes and local government funding by modifying the methodology for determining actual value of property, certain levy rates, bonding procedures, assessment protests, and assessment limitations of certain classes of property, and including retroactive applicability provisions

What it does

This bill relates to property taxation by modifying the methodology for determining actual value of residential, commercial, and industrial property, assessment limitations of certain classes of property, and certain levy rate limitations. DIVISION I —— ACTUAL VALUE LIMITATION.21, all property subject to taxation shall be valued at its actual value and, except as otherwise provided by law, shall be assessed at 100 percent of its actual value, and the value so assessed shall be taken and considered as the assessed value and taxable value of the property upon which the levy shall be made.

In plain words

1. February 18, 2026Filed in the House and sent to the Ways and Means committee