PROPERTY TAXES
SB4 / SJR2
INCREASED HOMESTEAD EXEMPTION
Effective for Tax Year Beginning in 1 / 1 / 25 if SJR 2 is Approved by Voters in November 2025
• Increases the homestead exemption to $ 140,000 from $ 100,000
• Provides a hold harmless for I & S funding to offset the impact of the increased homestead exemption; limits any I & S hold harmless related to increased homestead exemption to the amount required to service eligible debt, including refunding of debt
• Caps state funding at the amount needed to cover payments on debt that has been issued and had at least one payment made by September 1, 2025
SB23 / SJR85
INCREASED ADDITIONAL HOMESTEAD EXEMPTION
Effective for Tax Year Beginning in 1 / 1 / 25 if SJR 85 is Approved by Voters in November 2025
• Increases the additional homestead exemption for individuals who are disabled or 65 or older to $ 60,000 from $ 10,000
• Provides a hold harmless for I & S funding to offset the impact of the increased homestead exemption
• Limits any I & S hold harmless related to increased homestead exemption to the amount required to service eligible debt, including refunding of debt; caps state funding at the amount needed to cover payments on debt that has been issued and had at least one payment made by September 1, 2025
SJR34
PARENTAL RIGHTS
Effective November 4, 2025 if Approved by Voters in November 2025
• Proposes a constitutional amendment to state that a parent has the inherent right to direct the upbringing of their child, including the right to exercise care, custody, and control of the child
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