HB4492

Provides a homestead exemption for senior citizens.

Provides a homestead exemption for property occupied by a person 65 years of age or older. Establishes a maximum reduction from the value of the property for the exemption. Provides that the exemption continues if the person becomes a resident of a facility. Provides that the exemption is terminated if the property is sold and the new owner does not qualify. Provides that the exemption is terminated if the property is unoccupied and the owner notifies the chief county assessment officer. Provides that the exemption is terminated if the person dies.