Overview

• The reformed property tax system, effective January 2025, introduces updated valuation methods to replace outdated assessments deemed unconstitutional.
• The reform is designed to be revenue-neutral for municipalities but may result in uneven financial impacts on property owners and renters.
• Many municipalities have maintained their tax rates, potentially leading to higher costs in urban areas with elevated property values.
• Landlords are allowed to pass increased property tax costs onto tenants, raising concerns about affordability for renters in cities.
• Critics, including tenant advocacy groups, call for a ban on transferring property tax costs to renters to mitigate housing cost burdens.