Establishes a property tax deferral program for senior citizens, disabled persons, and disabled veterans.

This bill creates a property tax deferral program for senior citizens, disabled persons, and disabled veterans. Qualified individuals can defer property taxes on their primary residences until the property is sold or transferred. The deferred taxes accrue interest at six percent annually and become a lien on the property. The state will appropriate $2,000,000 for fiscal year 2027 and beyond to fund these deferrals. The general treasurer's office will establish requirements and procedures for municipalities.

Establishes a property tax deferral program for senior citizens, disabled persons, and disabled veterans.

This bill creates a property tax deferral program for senior citizens, disabled persons, and disabled veterans. Qualified individuals can defer property taxes on their primary residences until the property is sold or transferred. The deferred taxes accrue interest at six percent annually and become a lien on the property. The state will appropriate $2,000,000 for fiscal year 2027 and beyond to fund these deferrals. The general treasurer's office will establish requirements and procedures for municipalities.