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1996 SESSION

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HB 892 Local real property tax credits on certain properties.

Introduced by: William C. Mims | all patrons    ...    notes | add to my profiles

SUMMARY:

Local real property tax credits on certain properties. Permits localities, by ordinance, to provide for local real property tax credits equal to property tax liens which do not exceed 50 percent of the assessed value of the applicant's property at the time of purchase. The credit is available only to owners of rehabilitated, renovated or replacement residential structures at least 15 years old and may be used by the owner to offset real property taxes assess against such property.


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