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Introduced Senate Bill (S)

DIGEST

Over 65 deduction and circuit breaker credit. Increases (from $182,430 to $228,000) the deduction limitation on the assessed value of an individual's real property, or mobile home or manufactured home which is not assessed as real property, if the individual is at least 65 years of age on or before December 31 of the calendar year preceding the year in which the deduction is claimed. Provides that the additional credit for certain homesteads under current law does not apply if the gross assessed value of the homestead on the assessment date for which property taxes are imposed is at least Over 65 deduction and circuit breaker credit. Increases (from $182,430 to $228,000) the deduction limitation on the assessed value of an individual's real property, or mobile home or manufactured home which is not assessed as real property, if the individual is at least 65 years of age on or before December 31 of the calendar year preceding the year in which the deduction is claimed. Provides that the additional credit for certain homesteads under current law does not apply if the gross assessed value of the homestead on the assessment date for which property taxes are imposed is at least $191,700 (rather than $160,000 under current law). ... View more