Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill increases the annual income limit for senior and disabled citizens who are eligible for a $250 property tax deduction. It also establishes a system for adjusting future income limitations based on annual changes in the Consumer Price Index (CPI). The current income limit is $5,000 for years prior to 1981, increasing to $20,000 for 2023 and subsequent years, with adjustments based on CPI fluctuations. The bill requires voter approval of a constitutional amendment to permanently increase the income limit.
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