Proposing a constitutional amendment to exempt certain elderly persons and their surviving spouses from ad valorem taxation on their residence.

This bill proposes a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses. Specifically, it applies to individuals who are 72 years of age or older and have received an exemption for at least the preceding 10 years. The surviving spouse of a deceased individual who met these criteria is also entitled to an exemption if they were 55 years of age or older at the time of death and the property remained their residence homestead.

Proposing a constitutional amendment to exempt certain elderly persons and their surviving spouses from ad valorem taxation on their residence.

This bill proposes a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses. Specifically, it applies to individuals who are 72 years of age or older and have received an exemption for at least the preceding 10 years. The surviving spouse of a deceased individual who met these criteria is also entitled to an exemption if they were 55 years of age or older at the time of death and the property remained their residence homestead.