Establishes a real property tax exemption for persons aged 60 and over with an annual household income not exceeding $100,000.

This bill amends the real property tax law to establish a real property tax exemption for individuals aged 60 and over with an annual household income not exceeding $100,000. The exemption applies to real property owned by one or more persons meeting the age and income criteria. The state is directed to reimburse municipalities for lost revenues resulting from the exemption. The bill outlines specific conditions for eligibility, including requirements for timely application and the consequences of false statements.

Establishes a real property tax exemption for persons aged 60 and over with an annual household income not exceeding $100,000.

This bill amends the real property tax law to establish a real property tax exemption for individuals aged 60 and over with an annual household income not exceeding $100,000. The exemption applies to real property owned by one or more persons meeting the age and income criteria. The state is directed to reimburse municipalities for lost revenues resulting from the exemption. The bill outlines specific conditions for eligibility, including requirements for timely application and the consequences of false statements.