tax reduction for all commercial and industrial property: a 10% reduction in taxable
value (assessed value) over two years. A new tax credit for commercial and
industrial property. When phased in over three years, the taxable value of the
first $145,000 of a property’s market value will be sharply reduced to the same
level that applies to residential property. More property tax reductions for
apartments, nursing homes, assisted living facilities, and telephone companies.