Establishes a capped real property school tax rate for seniors aged 70 and older who qualify for the enhanced STAR exemption.

This bill amends the real property tax law to establish a capped real property school tax rate for individuals aged 70 and older who meet the eligibility requirements for the enhanced school tax relief exemption. The capped rate is the lower of the tax rate established on the taxable status date next succeeding the date on which an eligible person attains the age of 70 or the tax rate established on any subsequent taxable status date. Eligible individuals must apply annually for this capped rate, and school districts are required to notify eligible property owners.

Establishes a capped real property school tax rate for seniors aged 70 and older who qualify for the enhanced STAR exemption.

This bill amends the real property tax law to establish a capped real property school tax rate for individuals aged 70 and older who meet the eligibility requirements for the enhanced school tax relief exemption. The capped rate is the lower of the tax rate established on the taxable status date next succeeding the date on which an eligible person attains the age of 70 or the tax rate established on any subsequent taxable status date. Eligible individuals must apply annually for this capped rate, and school districts are required to notify eligible property owners.