HB4106 amends the Property Tax Code to increase the maximum income limitation for the low-income senior citizens assessment freeze homestead.
HB4106 amends the Property Tax Code to adjust the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption. For taxable years 2026 and thereafter, the maximum income limitation is set at $80,000, up from the previous limit of $65,000. This change aims to provide more seniors with the opportunity to benefit from this tax exemption, which is designed to freeze the assessed value of a senior citizen's primary residence at the time they first qualify for the exemption.
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