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2010 SESSION

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SB 547 Constitutional amendment; localities to establish either income or financial worth limitations.

Introduced by: George L. Barker | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (voter referendum); property exempt from taxation.  Provides for a referendum at the November 2010 election on the approval of a proposed constitutional amendment relating to property exempt from taxation. The proposed amendment allows the General Assembly to authorize localities to establish their own income or financial worth limitations for purposes of granting property tax relief for homeowners not less than 65 years of age or permanently and totally disabled. The Constitution presently requires a showing that the homeowners granted property tax relief bear an extraordinary tax burden on the property in relation to their income or financial worth as provided by the General Assembly by state law. This bill is identical to HB 16.


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