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2001 SESSION

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HB 1987 Exemption or deferral of tax on prop. for certain elderly/handicapped.

Introduced by: Richard H. Black | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Real property tax; exemption or deferral of taxes on property for certain elderly and handicapped; income limits. Raises the income limit from $52,000 to $62,000 and the financial worth amount from $195,000 to $240,000 for purposes of the exemption or deferral of taxes on real property located in the Eighth planning district. The statewide income limit is raised from $30,000 to $50,000. Localities are authorized to exempt or defer the real estate taxes of the elderly under such applicable limits. This bill is identical to SB 939.


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