Long-term homeowner tax exemption-revisions.

What it does: This bill revises the application deadline for the property tax exemption for long-term homeowners to March 1 each year. The bill also specifies that the exemption is applicable only to the first three million dollars ($3,000,000.00) of the property's fair market value. Establishes a method for claimants to maintain their exemption in subsequent years by confirming eligibility with the assessor's office by March 1 of each year. The bill allows an exemption qualification when there are transitions between residences within the state. (official summary)

Question before the chamber: HB0045JC001: H Adopted HB0045JC001: 53-5-3-0-1

Read the official record ↗