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2006 SESSION

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HB 540 Real estate taxes; exemption for certain elderly or disabled persons.

Introduced by: Jennifer L. McClellan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Real property taxes; exemption for certain elderly or disabled persons. Increases, and makes uniform statewide, the maximum income and net worth amounts of elderly or disabled persons that localities may use in providing real estate tax exemptions for such persons (i) from $50,000 to $75,000 for annual income, and (ii) from $200,000 to $350,000 for net worth. The net worth cap is also increased by increasing from 10 to 20 the number of acres on which the person's home is located that can be excluded in calculating net worth. The bill states that an emergency exists and is effective upon passage.

FULL TEXT

• 01/09/06  House: Prefiled and ordered printed with emergency clause; offered 01/11/06 063174228  pdf | impact statement

HISTORY

• 01/09/06  House: Prefiled and ordered printed with emergency clause; offered 01/11/06 063174228
• 01/09/06  House: Referred to Committee on Finance
• 01/18/06  House: Assigned to Finance sub-committee: #1 (Orrock)
• 02/06/06  House: Incorporated by Finance (HB121-Marshall, R.G.) by voice vote