S.1091

Increases annual income limit for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income.

This bill increases the annual income limit for seniors and disabled persons to be eligible for an annual property tax deduction. The income limit increase reflects an increase in cost of living. The income limit increase from $10,000 to $20,000 reflects actual inflation from 1983 to 2022, and the annual income limit change thereafter will reflect the actual cost of living change for the past year. The bill uses the Consumer Price Index to determine increases in years after 2023 to ensure that income limitation amount shall be rounded to the next highest multiple of $100.