| SB 0898 | Allows cities and counties to enact homestead exemption for certain senior citizens |
| Sponsor: | Bland | |||
| LR Number: | 4019S.01I | Fiscal Note: | 4019-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 01/31/00 - Referred S Ways & Means Committee | Journal page: | S159 | |
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 898 - This act authorizes the governing authority of any municipality or county to adopt an ordinance or order to allow a homestead exemption of up to $25,000 for senior citizens whose household income does not exceed $20,000 (adjusted for inflation after January 1, 2002). The taxpayer claiming the exemption is required to submit to the assessor, by March 1 of each year, a statement of household income. The governing authority is required to submit a copy of the ordinance or order to the local assessor by December 1 of each year. Persons receiving the circuit breaker tax credit are still eligible for the homestead exemption.
The act applies to all taxable years beginning after December 31, 2002.
This act is similar to SB 586, SB 635 and SB 764.
DAVID VALENTINE