SB3849 amends the Property Tax Code to adjust the maximum reduction for the general homestead exemption based on the Consumer Price Index.
SB3849 amends the Property Tax Code to adjust the maximum reduction for the general homestead exemption. For taxable years 2027 and thereafter, the maximum reduction for the general homestead exemption in all counties will be the maximum reduction for the immediately preceding taxable year, increased by the percentage increase, if any, in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year.
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