Housing (Renters)

HB 753 establishes new rules for taxing multi-unit rental properties (4+ units) that receive federal, state, or local incentives tied to low-income renter restrictions. It requires property assessors to value these properties using specific methods, including adjusting market value based on rent ratios and excluding tax credits, while applying a capitalization rate 50-150 basis points above standard rates. Owners must notify assessors about restrictions by December 31 each year, or face tax penalties. The law takes effect for tax year 2026 and applies to properties developed on or after that date.

HB 1345 shortens the notice period landlords must give tenants before terminating a rental agreement for specific violations. It reduces the required notice from 14 days to 7 days for nonpayment of rent, costs for repairs or damages, or acts of violence posing a real danger to safety. Tenants facing these issues would have less time to resolve the problem before potential eviction. The bill applies to residential rental agreements entered into, amended, or renewed on or after July 1, 2025.