Assessment of Affordable Housing Property (Watch)

Assessment of Affordable Housing Property (Watch)

HB 443 (Rodriguez, Anthony) and SB 568 (Diaz) authorize local governments to enter into agreements with certain property owners to record specified restrictive covenants over their properties related to affordable housing. Each local government that enters into an agreement with a property owner must provide the property appraiser with a list of all agreements entered into for the calendar year no later than December 1 of the year before the year in which the revised assessment will take effect. The property appraiser must consider each property with a restrictive covenant in accordance with the terms of the covenant, including any recorded amendment, supplement or addendum to or resale restriction in the covenant for the purpose of assessing the property. (Hughes)