SB 271 - This act enables senior citizens, fifty-nine and a half years or older, and disabled persons to delay paying property taxes on their residences. The act establishes eligibility criteria for the taxpayer and the property for participating in the deferral. Taxpayers desiring deferral of property taxes must file an application with the county assessor who will forward such application to the department of revenue for a determination of eligibility. If the application is approved, the Department of Revenue must notify the county assessor who will make a notation on the tax rolls identifying the property as tax-deferred. Each year, the Department of Revenue will allocate funds, from the newly created property tax deferral revolving account to each county with properties subject to tax deferral, in an amount equal to the taxes deferred within each such county. All deferrals of tax will result in a lien, to be held by the Department of Revenue, against the property of the taxpayer which must be recorded in the mortgage records of the county in which the property is located. The lien will be for the amount of the property tax as estimated by the Department of Revenue plus interest to accrue at six percent per annum. The taxes plus interest, must be paid when the owner dies or sells the property, moves, or the property changes ownership. This act is similar to Senate Bill 594 (2006), Senate Bill 32 (2007), and Senate Bill 1213 (2008). JASON ZAMKUS