Politics

State Bill 156 Caps Property Tax Growth for Liberty Village Homeowners, Leaving Renters and Businesses Unchanged

Homeowners in Liberty Village will see their annual property tax bills limited to a 2 percent increase under the new state measure that takes effect in January 2027, while renters and commercial property owners receive no equivalent adjustment.

By Liberty Village Policy Desk · Published July 8, 2026

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State Bill 156 Caps Property Tax Growth for Liberty Village Homeowners, Leaving Renters and Businesses Unchanged — Photo by marc falardeau / flickr (by)

State Bill 156, passed by the legislature on June 28, limits annual property tax increases to 2 percent for primary residences. The change applies directly to Liberty Village property owners who file as their main home, according to the bill text filed with the state revenue department.

The measure follows a 2025 state budget paper that showed Liberty Village property values rose 9 percent last year. Lawmakers introduced the cap to address those assessments without altering the overall tax rate structure used by the county assessor.

Effects on Local Households and Services

A Liberty Village homeowner with a $450,000 assessed value would pay no more than an additional $180 in taxes next year under the cap, based on the current 4 percent rate. Renters in the same buildings will see no change in lease costs tied to this bill, as the legislation does not require landlords to pass savings forward. Local advocates note that commercial properties in the village's business district remain subject to full market reassessments.

The bill's fiscal note states the statewide revenue reduction totals $14 million in the first year. Liberty Village's share of that reduction equals $620,000, which the county will offset by drawing from its general fund reserves rather than cutting existing road maintenance contracts.

Implementation Timeline

County assessors must update their systems by December 15 to apply the cap to qualifying parcels. The legislation states that residents can appeal their classification through the existing county board process if they believe their property was mislabeled as non-primary. No additional state funding is provided for local administration of the change.

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