08/22/2024

House Bill 655

Lead Sponsors: Representative Tom Patton

Status: Introduced (August 13, 2024)

Description: The bill authorizes a property tax exemption, calculated to "freeze" the property tax owed, for properties in which the owner's total income is less than $70,000. The exemption is open to both real property and manufactured homes.

The exemption is to be reimbursed to local taxing entities in the same manner as other property tax reductions for certain homesteads and owner-occupied properties.

CCAO Position: No position (as of August 2024)