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2007 SESSION

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SJ 354 Constitutional amendment; exempts certain homeowners from taxation (first reference).

Introduced by: Nick Rerras | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Constitutional amendment (first resolution); property exempt from taxation.  Authorizes the General Assembly to enact legislation that will allow localities by ordinance to exempt from real property taxes, or defer real property taxes on, up to 20 percent of the value of residential or farm property that is the owner- occupant's primary dwelling and lived in continuously. This resolution incorporates SJRs 362, 371, 386, 398, 425 and 443.

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); property exempt from taxation.  Authorizes the General Assembly to enact legislation that will allow localities to exempt from real property taxes a portion of the value of owner-occupied dwellings that have been owner-occupied for five or more years and are the owner's primary dwelling.