Legislation Details

Reference No. CB-084-2010    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 10/26/2010
Introduced Date 9/28/2010 Public Hearing Date
Effective date: 1/3/2011    
Title: An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2011, as required by State Law
Proposers/Sponsors: Thomas E. Dernoga, Camille A. Exum, County Executive
Code sections: 10-241.02 -
Attachments: 1. ACTION SUMMARY S2010084, 2. B2010084.pdf
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, 2011, 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, 2011, as required by State law. Based on recent changes in the Consumer Price Index (CPI), the homestead property tax credit percentage needs to be set at 101% for the taxable year beginning July 1, 2011. The homestead property tax credit was created to limit taxable assessment increases on a property owner’s principal residence.