|SB 0584||Freezes residential property valuation for senior citizens at local option|
|LR Number:||2165S.01I||Fiscal Note:||2165-01|
|Committee:||Ways and Means|
|Last Action:||04/10/01 - Hearing Conducted S Ways & Means Committee||Journal page:|
|Effective Date:||January 1, 2002|
SB 584 - This act freezes the assessed valuation of homestead property owned by individuals or married couples aged 65 and older during the period of ownership in any county where voters approve. When the property is transferred, the previous owners owe property taxes on the increased value of the property. The act has a referendum clause and would be submitted to the voters in November 2002 unless the Governor selects an earlier date.
This act is similar to SB 635 (2000) and SCS/SB 281 (2001).