HB 780 - This act requires that, if so elected by a taxpayer, the assessed value of the taxpayer's residential real property used as a primary residence shall be equal to the most recent assessment and shall remain at such value until the property is sold. If the property is obtained on or after January 1, 2026, the assessed value of such property shall be equal to the purchase price and shall remain at such value until the property is sold. Such value may be increased to reflect the value of new construction and improvements, provided that the value of such new construction and improvements is at least fifty percent of the true value of the property. (Section 137.115) Additionally, current law requires assessors to provide notice to taxpayers when the valuation of the taxpayer's real property has increased. This act requires an assessor to provide any third party documents, reports, or other data that was relied upon in the computation of assessed value. (Sections 137.180 and 137.355)
These provisions are identical to SB 787 (2025) and to provisions in SCS/SB 85 (2025) and HB 780 (2025), and is substantially similar to provisions in HB 1582 (2025).
JOSH NORBERG