Legislation that would freeze property taxes on vehicles for the next two years is close to becoming law after it passed off the Senate floor this week with unanimous approval.
House Bill 6 calls for officials to use valuations from January 2021 for assessing taxes on vehicles in 2022 and 2023. It also requires taxes to be assessed based on a vehicle’s median value rather than lower or high values going forward.
The legislation mirrors language from a resolution that the Senate passed last month to freeze assessments.
If the House agrees with the final version of the bill, it will advance to the governor.
The legislation states that taxpayers who have already paid their property tax bill for this year will automatically receive a refund, if owed, within 90 days from the effective date of the bill. It also seeks to improve appeals to property valuation administrators regarding errors in valuations.