Bill > HB174

This bill allows counties and municipalities to enact ordinances that provide a ten-year suspension on property tax increases for certain commercial enterprise development projects, starting from the year the project begins. To qualify, the enterprise must create jobs and promote economic activity, with local governments able to set additional criteria. Taxpayers can apply for this suspension, and if denied, they have the right to appeal. If approved, the county assessor will value the property for tax purposes at its pre-project level for ten years. Importantly, "commercial enterprise" in this context includes multi-unit residential properties but excludes single-family homes.