Increases the personal property tax exemption to $50,000 for eligible individuals.

This bill amends the tax code to increase the personal property tax exemption to $50,000 for eligible individuals. The exemption applies to household goods, furnishings, and personal effects used by the owner, excluding private motor vehicles and mobile homes. The increased exemption takes effect on January 1, 2026, contingent on voter approval of a proposed constitutional amendment.

Increases the personal property tax exemption to $50,000 for eligible individuals.

This bill amends the tax code to increase the personal property tax exemption to $50,000 for eligible individuals. The exemption applies to household goods, furnishings, and personal effects used by the owner, excluding private motor vehicles and mobile homes. The increased exemption takes effect on January 1, 2026, contingent on voter approval of a proposed constitutional amendment.