Increases income eligibility limit for homestead property tax reimbursement program.

The bill raises the income eligibility limit for the homestead property tax reimbursement program, also known as the senior and disabled citizens' property tax freeze program, to $160,000 starting in tax year 2021. This increase allows more citizens to benefit from the program, which reimburses qualified participants for any annual increase in property taxes above the amount of the tax liability for the year they became eligible for the program. The program applies to individuals who are 65 or older, or disabled, and have an annual income below the specified limit.

Increases income eligibility limit for homestead property tax reimbursement program.

The bill raises the income eligibility limit for the homestead property tax reimbursement program, also known as the senior and disabled citizens' property tax freeze program, to $160,000 starting in tax year 2021. This increase allows more citizens to benefit from the program, which reimburses qualified participants for any annual increase in property taxes above the amount of the tax liability for the year they became eligible for the program. The program applies to individuals who are 65 or older, or disabled, and have an annual income below the specified limit.