SJR 36 – Caps the tax on real property and freezes the property taxes on individuals 62 years old or older

• Sponsor: Ridgeway
• LR Number: 4525S.01I
• Committee: Ways and Means and Fiscal Oversight
• Last Action: 1/5/2012 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee
• Journal Page: S65
• Effective Date: Upon voter approval

Current Bill Summary

SJR 36 - Upon approval of the voters, this constitutional amendment would freeze the property tax levied on residential real estate owned by a person who is sixty-two years old or older beginning with all tax years on or after January 1, 2013.

This amendment would also cap the tax levied on real property at one half of one percent of the market value of the property.

EMILY KALMER