SB 0173 Allows cities and counties to enact a homestead exemption for certain senior citizens
LR Number:0479S.01I Fiscal Note:0479-01
Committee:Ways and Means
Last Action:01/22/01 - Second Read and Referred S Ways & Means Committee Journal page:S125
Effective Date:August 28, 2001
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Current Bill Summary

SB 173 - This act authorizes the governing body of any municipality or county to adopt an ordinance or order to allow a homestead exemption of up to $25,000 for senior citizens whose household income does not exceed $20,000 (adjusted for inflation after January 1, 2003). The taxpayer claiming the exemption is required to submit to the assessor, by March first of each year, a statement of household income. The governing authority is required to submit a copy of the ordinance or order to the local assessor by December first of each year. Persons receiving the circuit breaker tax credit are still eligible for the homestead exemption.

The act applies to all taxable years beginning after December 31, 2001.

This act is similar to SB 898 (2000).