A5569

Increases the amount of rent defined as property taxes for deduction from gross income and raises the property tax credit option for certain.

This bill amends the “Property Tax Deduction Act” to increase the amount of rent defined as “rent constituting property taxes” from 18 percent to 30 percent of the rent paid by the taxpayer. It also raises the property tax credit option from $50 to $250 for certain individuals, including those who paid property taxes or rent constituting property taxes on a homestead during the calendar year.