SB 1544

Abstract

Digest: The Act would grant a specially assessed property tax value for the homes of people who are at least 65 years old. The Act would sunset after six years, but a home in the program that remained eligible would be able to stay in it past the sunset. (Flesch Readability Score: 67.9). Provides, for purposes of ad valorem property taxation, a specially assessed value for the owner-occupied primary residences of individuals who are at least 65 years of age. Sunsets the program after six years. Maintains the specially assessed value for residences granted the specially assessed value before the sunset date as long as the residences continue to qualify for it. Takes effect on the 91st day following adjournment sine die.