SB 568

Provides, for purposes of ad valorem property taxation, a specially assessed value for the homestead of individuals who are at least 70 years old.

Bill Text

• Introduced

The bill provides a specially assessed property tax value for homesteads of individuals at least 70 years old.

Original Bill Text

Sponsors#

Chief Sponsors: Dick Anderson

Overview#

Digest: The Act would grant a specially assessed property tax value for the homes of people who are at least 70 years old. The Act would sunset after six years, but a home in the program that remained eligible would be able to stay in it past the sunset. (Flesch Readability Score: 67.9). Provides, for purposes of ad valorem property taxation, a specially assessed value for the homestead of individuals who are at least 70 years old. Sunsets the program after six years. Maintains the specially assessed value for homesteads granted the specially assessed value before the sunset date as long as the homesteads continue to qualify for it. Takes effect on the 91st day following adjournment sine die.

Legislative History