If approved, lawmakers could allow lower property tax caps on main homes

State lawmakers could pass a law letting counties, cities, and towns lower the cap on their share of property taxes for covered homes. It covers taxes charged within a county, city, or town on a main home of an owner, contract buyer, or person with a beneficial interest in the home's owner. The amendment needs approval from two successive General Assemblies and a majority of voters who vote on it. The amendment would first apply to the assessment date in the year after voters ratify it.