HB 1380

Abstract

Real property tax; assessment of real propertyused for affordable housing. Requires the duly authorized realestate assessor of a locality to appraise affordable rental housingin accordance with the income approach, as described by the bill.The bill provides that, should the duly authorized real estate assessorfail to follow generally accepted appraisal practices, the assessmentwill not be entitled to a presumption of correctness, and if the owner then successfully appeals such assessment, the locality shallreimburse the owner for attorney fees and costs incurred.