Legislation Details

Reference No. CB-022-2007    Draft No. 2
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 9/11/2007
Introduced Date 7/24/2007 Public Hearing Date
Effective date: 11/16/2007    
Title: An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2008, as required by State law
Proposers/Sponsors: Camille A. Exum, County Executive
Code sections: 10-241.02 -
Attachments: 1. ACTION SUMMARY S2007022, 2. B2007022.pdf
Contact: Ren Chen OMB
Title An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2008, 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, 2008, 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 103% for the taxable year beginning July 1, 2008. The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner’s principal residence.