Legislation Details

Reference No. CB-042-2011    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/8/2011
Introduced Date 10/11/2011 Public Hearing Date
Effective date: 12/27/2011    
Title: An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2012, as required by State Law
Proposers/Sponsors: Ingrid M. Turner, County Executive
Code sections: 10-241.02 -
Attachments: 1. B2011042.pdf, 2. ACTION SUMMARY S2011042
Contact: Jim Abernathy OMB
Title An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2012, as required by State Law Background This legislation will establish the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2012, as required by State law. Based on recent changes in the Consumer Price Index (CPI), the Homestead Property Tax Credit precentage needs to be set at 104% for the taxable year beginning July 1, 2012. The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner's principal residence.