I’m pleased to share that the Senate Urban Affairs Committee has unanimously advanced my bill, Senate Bill 979 — the Reinvestment in Housing Act.
This legislation encourages homeowners to reinvest in their properties without the fear of an immediate property tax increase. Under current law, even modest improvements can trigger a reassessment, which often discourages families from making upgrades that benefit both their homes and their communities.
This bill is about ensuring homeowners aren’t penalized for maintaining and improving their homes. Investing in our homes strengthens neighborhoods, supports local economies, and helps combat blight.
SB 979 would prevent a reassessment when improvements amount to 20% or less of a home’s current assessed value, with safeguards including:
- The home must be a primary residence.
- The owner must have lived there for at least five years.
- The benefit can only be used once during ownership.
This is a simple, smart way to promote responsible homeownership and community revitalization. The bill now moves to the full Senate for consideration!