Legislation Details

Reference No. CB-066-2012    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/7/2012
Introduced Date 10/2/2012 Public Hearing Date
Effective date: 12/31/2012    
Title: An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2013, as required by State Law
Proposers/Sponsors: Derrick Leon Davis, Mel Franklin, Andrea C. Harrison, Obie Patterson, Ingrid M. Turner, County Executive
Code sections: 10-241.02 -
Attachments: 1. ACTION SUMMARY S2012066, 2. B2012066.pdf
Contact: Beth McCoy OMB
Title An Act establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2013, 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, 2013, 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 102% for the taxable year beginning July 1, 2013. The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner’s principal residence.