Housing tax relief would depend on full ownership and local government control

Housing property would need to be entirely owned by a municipality, county, or an entity fully controlled by either government to qualify. This rule would cover housing property acquired or held under the local housing chapter. The exemption covers taxes and special assessments, meaning extra charges imposed by public bodies. Parts used by profitmaking businesses would not qualify. Taxes on those parts would include an allowance for local government spending on utilities or other public services. A municipality or county could agree to payments instead of taxes if consistent with keeping housing rents low and meeting the chapter's purpose. If enacted, the measure would take effect immediately upon becoming law and apply to all taxpayers, cities, towns, and counties beginning January 1, 2026.