Lead Sponsors: Representative Dani Isaacsohn and Representative Thomas Hall
Status: 4th Hearing in House Ways and Means Committee (February 6, 2024)
Description: The bill freezes property taxation for certain homeowners, keeping their property tax bill at their 2023 level. The state will reimburse local taxing units for the different out of the state GRF.
To qualify for the freeze, the homeowner must be at least 65 years old, have maintained continual occupancy at the property for at least two years, must have a total annual income of $50,000 or less, and the home value of the property must be less than $500,000.
CCAO Position: No position (as of July 2024)