Establishes a tax credit for individuals age 65 or older, equal to half of their qualifying real property taxes, up to $6,500.

The bill establishes the retire strong tax credit for individuals age 65 or older. It authorizes a tax credit equal to half of the qualifying real property taxes paid by such individuals for the taxable year, up to $6,500. The credit is applicable to qualifying real property taxes, special ad valorem levies, and special assessments, excluding penalties and interest. The credit is not granted to individuals with qualified gross income exceeding $300,000, or to those who own property used for nonresidential purposes.

Establishes a tax credit for individuals age 65 or older, equal to half of their qualifying real property taxes, up to $6,500.

The bill establishes the retire strong tax credit for individuals age 65 or older. It authorizes a tax credit equal to half of the qualifying real property taxes paid by such individuals for the taxable year, up to $6,500. The credit is applicable to qualifying real property taxes, special ad valorem levies, and special assessments, excluding penalties and interest. The credit is not granted to individuals with qualified gross income exceeding $300,000, or to those who own property used for nonresidential purposes.