Bill > HF1471

This bill modifies the property tax exemption for certain airport property. It states that the property tax exemption does not apply to airport property owned or operated by the Metropolitan Airports Commission or cities with a population over 50,000, except that the net tax capacity of such property is reduced by 50% for property taxes payable from 2024 to 2035 if the airport is owned or operated by a city with a population over 50,000 but under 150,000. The bill also clarifies that the tax exemption does not apply to hangars leased for non-aviation-related businesses or to certain passenger check-in and boarding areas at these larger airports. The effective date for these changes is for property taxes payable starting in 2024.