SB 15 - Current law authorizes an income tax credit for certain senior citizens and disabled veterans in amount equal to a portion of such taxpayer's property tax liabilities, not to exceed $750 in rent constituting property taxes actually paid or $1,100 in actual property tax paid. This act adjusts such maximum amounts annually for inflation. (Section 135.025)

Additionally, current law limits the tax credit to qualifying taxpayers with an income of $27,500 or less. This act increases such maximum income to $35,000 and adjusts such maximum annually for inflation. (Section 135.030)


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