Bill > SB225

This bill requires municipalities with over 10,000 residents to provide comprehensive public notice before conducting property value reassessments, either annually or during a five-year revaluation cycle. Specifically, the bill mandates that these municipalities must provide at least 45 days' notice before issuing the final tax bill through multiple communication channels, including individual notices to property owners, local newspaper publications, the municipality's main website and social media accounts, and physical postings in the usual locations for municipal meeting notices. For annual assessments, the governing body must also hold two public hearings between 15 and 60 days prior to authorizing the appraisal process. The bill aims to increase transparency in property tax assessment by ensuring property owners are well-informed about potential changes in their property's assessed value. The legislation will take effect on July 1, 2026, and while the fiscal note suggests the requirements may increase municipal administrative costs, the exact financial impact is considered indeterminable and will likely vary between different municipalities.