Bill Title: Amends the Property Tax Code. Provides that, for the purpose of calculating the long-time occupant homestead exemption, the adjusted homestead value shall be calculated by increasing the base homestead value by (i) 5% (currently, 10%) for qualified taxpayers with a household income of more than $75,000 but not exceeding $100,000 or (ii) 3% (currently, 7%) for qualified taxpayers with a household income of $75,000 or less. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB2845 Detail]

Text: Latest bill text (Introduced) [HTML]

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