Authorizes the town of Jamestown to expand the local tax exemption ordinance for seniors.

This bill authorizes the town of Jamestown to expand the local tax exemption ordinance for seniors. The town council can, by ordinance, adjust the amount of exemption granted and the rules and regulations. The exemption applies to residential property owned and occupied by individuals aged 65 or over. The exemption amount varies based on the income level of the taxpayer, ranging from 10% to 60% of the assessment cap or assessed valuation. The exemption terminates upon conveyance of the property, death of the person, or moving from the town.

Authorizes the town of Jamestown to expand the local tax exemption ordinance for seniors.

This bill authorizes the town of Jamestown to expand the local tax exemption ordinance for seniors. The town council can, by ordinance, adjust the amount of exemption granted and the rules and regulations. The exemption applies to residential property owned and occupied by individuals aged 65 or over. The exemption amount varies based on the income level of the taxpayer, ranging from 10% to 60% of the assessment cap or assessed valuation. The exemption terminates upon conveyance of the property, death of the person, or moving from the town.