The bill adjusts the percentages used to calculate the valuations for assessment for residential property that is accessible housing property. For property tax years commencing on or after January 1, 2025, the bill reduces the percentages by 1/60 of 1%, up to a maximum of 1%, for each point by which an accessible housing property exceeds the number of accessibility points required by state accessible housing standards. For property tax years commencing on or after January 1, 2025, the bill reduces the percentages for accessible housing properties that achieve at least the specified number of accessibility points required by state accessible housing standards by a range of percentages, not to exceed 1%. The percentages decrease according to the type of accessible units that are contained within the accessible housing property in the following order with the largest decreases being listed first: Type A dwelling units, Type A multistory dwelling units, Type B dwelling units, Type B multistory dwelling units, and Type B visitable ground floor units.
