Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons.

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 provides an exemption for individuals aged 65 and older who have received the exemption for at least the preceding 10 years. The surviving spouse of such a person is also entitled to an exemption if they were 55 or older at the time of the deceased spouse's death and the property remained their residence homestead.

Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons.

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 provides an exemption for individuals aged 65 and older who have received the exemption for at least the preceding 10 years. The surviving spouse of such a person is also entitled to an exemption if they were 55 or older at the time of the deceased spouse's death and the property remained their residence homestead.