HB 45: Long-term homeowner tax exemption-revisions.
HB 45 status: Enacted — Assigned Chapter Number 83 (updated Mar 8, 2026).
What this bill does
Overall score
Bill summary
OfficialThis bill revises the application deadline for the property tax exemption for long-term homeowners to March 1 each year. The bill also specifies that the exemption is applicable only to the first three million dollars ($3,000,000.00) of the property's fair market value. Establishes a method for claimants to maintain th...
Key analysis
Impact analysis
Environment
Benefits
- No material direct impact on environmental policy.
Risks
- No material direct impact on environmental policy.
Economy
Benefits
- Provides long-term fiscal certainty for homeowners.
- Removes sunset date, stabilizing residential property tax policy.
Risks
- Caps exemption at $3,000,000 in market value.
- Adds administrative burden for annual eligibility confirmation.
Society
Benefits
- Supports housing stability for long-term residents.
- Allows portability of exemptions between state residences.
Risks
- Risk of administrative error if homeowners miss the March 1 renewal deadline.
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
Homeowners must re-apply annually to maintain eligibility.
Analysis based on abstract, not full bill text.
Where it stands
Introduced
CompleteCommittee
CompleteFloor
CompleteGovernor
CompleteEnacted
CompleteHow it affects your district
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