HB 887, Age Based Reduced Educational Property Tax Assessment

Municipal Impact
Position
Contact

Rep. Ron Stephens
District 164
Contact Info

Neutral
Last Updated:
Subject Area:
Resources:
1/13/2022
Taxation - State Only |
bill text

This bill would allow for property with a homestead exemption and owned by individuals 65 years of age or older, to be assessed at 20 percent of fair market value for purposes of educational ad valorem taxes. The reduced assessment would be allowed following a resolution by the local school district and approval by referendum. 

House Resolution 571 provides the required accompanying constitutional amendment. 

BILL STATUS
1/14/2022 - Assigned To House Committee
COMMITTEE
House Ways & Means