Title
AN ACT CONCERNING REAL PROPERTY TAX DEFERRAL FOR ELDERLY OR DISABLED HOMEOWNERS for the purpose of expanding the eligibility for elderly or disabled homeowners to defer annual increases in their County property tax; increasing the amount of County property taxes that may be deferred; reducing the interest rate charged on deferred taxes; and generally relating to property tax assessment, collection, and levy.
Body
FOR USE BY COUNCIL ADMINISTRATION:
Confidential: Yes / No
Requested by: Krystal Oriadha
Assigned to: Josh Hamlin
Legislastion Type: Bill
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Proposer(s): Council Member Oriadha
Background
This bill will amend the existing tax deferral for elderly or disabled homeowners to provide more tax relief to more County seniors. It will: (1) increase the maximum annual income of eligible participants; (2) increase the maximum amount of County property taxes that may be deferred; and (3) reduce the interest rate charged on the deferred taxes. The bill will take effect in the tax year beginning July 1, 2027.
REMINDER: Attach the Legislative file document