State By State
Rent Control & Property Tax Rules By State
A quick reference for apartment building owners: how each state handles rent regulation and property tax assessment, with links to detailed state pages and rent-control guides.
Which states have statewide rent control?
As of 2026, California, Oregon, and Washington cap annual rent increases statewide on many older apartment buildings. New York regulates rent-stabilized units in New York City and localities that opt in, and New Jersey leaves rent control to individual municipalities. Most other states have no statewide rent cap, and many prohibit local rent control — though a few cities and counties elsewhere have their own rules.
| State | Rent regulation | Property tax & assessment |
|---|---|---|
| Alabama | No statewide rent cap | Alabama’s effective property tax rates are among the lowest nationally, and rental property is assessed as commercial property. |
| Arizona | No statewide rent cap | Arizona property taxes are based on the Limited Property Value, which can increase by no more than 5% per year. |
| Arkansas | No statewide rent cap | Arkansas assesses real property at 20% of market value, with county reappraisals on a regular cycle. |
| California | Statewide rent cap (AB 1482) plus local ordinances | Under Proposition 13, a sale resets the assessed value to the purchase price, with a base rate of about 1% plus local assessments, and annual increases capped at 2% afterward. |
| Colorado | No statewide rent cap | Colorado reappraises property every odd-numbered year, and the legislature has adjusted residential assessment rates several times recently. |
| Connecticut | No statewide rent cap | Connecticut property taxes are set locally, with each town applying its own mill rate and revaluation schedule. |
| Delaware | No statewide rent cap | All three Delaware counties recently reassessed property for the first time in decades. |
| Florida | No statewide rent cap | In Florida, the 10% annual cap on non-homestead assessments resets after a sale, so a buyer’s taxes are often based on the new purchase price. |
| Georgia | No statewide rent cap | Georgia property is assessed at 40% of fair market value, and a sale can lead the county to reassess. |
| Idaho | No statewide rent cap | Idaho’s homeowner exemption does not apply to rental property, so multifamily is taxed on full assessed value. |
| Illinois | No statewide rent cap | Illinois has some of the highest effective property tax rates in the country, and Cook County reassesses on a triennial cycle. |
| Indiana | No statewide rent cap | Indiana caps property taxes on residential rental property at 2% of gross assessed value, which adds predictability. |
| Iowa | No statewide rent cap | Iowa now taxes multi-residential property under the residential class, and assessments are updated in odd-numbered years. |
| Kansas | No statewide rent cap | Kansas assesses residential property, including apartments, at 11.5% of appraised value, with annual appraisals. |
| Kentucky | No statewide rent cap | Kentucky property is assessed at fair cash value as of January 1 each year, and effective tax rates are relatively low. |
| Louisiana | No statewide rent cap | Louisiana parishes reappraise property on a four-year cycle, and insurance and flood exposure can significantly affect operating costs. |
| Maine | No statewide rent cap | Maine property taxes are assessed by each municipality. |
| Maryland | No statewide rent cap | Maryland reassesses property on a three-year cycle with phased-in increases. |
| Massachusetts | No statewide rent cap | Massachusetts communities assess property annually, and Proposition 2½ caps growth in each town’s total levy. |
| Michigan | No statewide rent cap | In Michigan, taxable value uncaps after a sale under Proposal A, which can raise property taxes significantly for the buyer. |
| Minnesota | No statewide rent cap | Minnesota classifies rental property separately from homesteads, and qualifying low-income units may receive a reduced 4d rate. |
| Mississippi | No statewide rent cap | Mississippi assesses non-homestead property, including rentals, at a higher ratio than owner-occupied homes. |
| Missouri | No statewide rent cap | Missouri assesses residential property at 19% of market value and reassesses in odd-numbered years. |
| Montana | No statewide rent cap | Montana reappraises residential property every two years. |
| Nebraska | No statewide rent cap | Nebraska assesses property annually at market value, and property taxes are relatively high. |
| Nevada | No statewide rent cap | Nevada’s property tax abatement caps how much most tax bills can rise each year, and rental property has its own cap separate from owner-occupied homes. |
| New Hampshire | No statewide rent cap | New Hampshire relies heavily on local property taxes, and each town sets its own rate. |
| New Jersey | Municipal rent control ordinances; statewide just-cause rules | New Jersey property taxes are among the highest in the nation and vary by municipality. |
| New Mexico | No statewide rent cap | New Mexico caps annual valuation increases on residential property at 3%, though a sale can reset the value. |
| New York | Rent stabilization (NYC and opted-in localities) | New York City and upstate municipalities assess property very differently, and rent-stabilization status can materially affect value. |
| North Carolina | No statewide rent cap | North Carolina counties reappraise on cycles of up to eight years. |
| North Dakota | No statewide rent cap | North Dakota assesses property locally, and effective tax rates are moderate. |
| Ohio | No statewide rent cap | Ohio assesses property at 35% of appraised value, with reappraisals every six years and updates every three. |
| Oklahoma | No statewide rent cap | Oklahoma has relatively low effective property tax rates, but a sale can prompt the county to revalue the property. |
| Oregon | Statewide rent cap on older buildings | Under Measure 50, a property’s assessed value can grow by no more than 3% per year, and it is often well below market value. |
| Pennsylvania | No statewide rent cap | Pennsylvania assessment practices vary by county, and realty transfer taxes include both state and local portions. |
| South Carolina | No statewide rent cap | South Carolina taxes rental property at a 6% assessment ratio, and a sale can trigger reassessment. |
| South Dakota | No statewide rent cap | South Dakota assesses property annually, and non-owner-occupied residential property is taxed at a higher rate than owner-occupied homes. |
| Tennessee | No statewide rent cap | Tennessee assesses residential property at 25% of appraised value, with county reappraisals every four to six years. |
| Texas | No statewide rent cap | Texas appraisal districts reassess every year, and effective property tax rates are among the higher ones nationally. |
| Utah | No statewide rent cap | Utah’s residential exemption can reduce taxable value for rental units that serve as tenants’ primary residences. |
| Vermont | No statewide rent cap | Vermont properties pay both a statewide education tax and local municipal taxes. |
| Virginia | No statewide rent cap | Many Virginia cities and counties reassess property every year. |
| Washington | Statewide rent stabilization (2025 law) | Washington assesses property annually at market value, and the state’s graduated real estate excise tax applies at sale. |
| West Virginia | No statewide rent cap | West Virginia assesses property at 60% of appraised value, and effective tax rates are relatively low. |
| Wisconsin | No statewide rent cap | Wisconsin municipalities assess property locally, and property taxes are moderately high. |
| Wyoming | No statewide rent cap | Wyoming has relatively low property taxes and no state income tax. |
Rules change — confirm current law for your property. See selling a rent-controlled building and our seller guides.
Resources
Seller Guides
Complete Seller’s GuideThe complete guide to selling an apartment building: your options, how buyers value it, taxes, timeline, and documents to prepare.
1031 Exchange GuideHow a 1031 exchange works: what qualifies, the 45/180-day deadlines, boot, intermediaries, reverse and DST exchanges, with a worked example.
Taxes When You Sell A RentalHow a rental property sale is taxed in 2026: recapture, capital gains, NIIT, state tax, suspended losses and a $3M 20-unit example.
Should I Sell My Rental?Sell or keep your rental? A worked comparison, signs it is time to sell, the tax you would owe and options in retirement.
Selling With Tenants In PlaceHow to sell a rental property with tenants in place: leases, showing notice, deposit transfer rules, prorations and how occupancy affects price.
Selling Off-MarketWhat an off-market apartment sale involves, how it compares with listing, and how to keep it private and vet the buyer.