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Property tax measure could cost state about $1.3 billion per year, estimate shows

A proposed statewide property tax reform measure would cost the state about $1.3 billion each fiscal year, according to a state estimate.

Adam Mathiak, senior fiscal analyst for Legislative Council, provided the estimate to the Legislature’s Government Finance Committee during its meeting Tuesday.

A proposed measure would end property tax based on assessed value and rely on the state to fund budge...