HB3580 amends the Property Tax Code to increase the income limit for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.
HB3580 amends the Property Tax Code to adjust the income limit for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. For taxable years 2026 and beyond, the maximum income limitation for this exemption is set at $75,000 for all qualified property. This change aims to provide more seniors with the benefit of reduced property taxes, ensuring they can maintain their homes despite potential financial constraints.
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