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Senate Bill 0466


Senate Bill 0466

ARCHIVE (2009)

Latest Information

 

DIGEST OF INTRODUCED BILL


Property tax standard deduction. Specifies filing requirements for the property tax standard deduction. (Before the repeal of the homestead credit statutes, property eligible for the homestead credit was automatically eligible for the standard deduction without the filing of an application.) Specifies that a person may apply for the standard deduction on a sales disclosure form. Provides that with respect to real property, a person must file an application for the standard deduction during the year for which the person desires to obtain the deduction. Provides that with respect to a mobile home that is not assessed as real property, the person must file an application for the standard deduction during the 12 months before March 31 of the year for which the person desires to obtain the deduction. Provides that the standard deduction applies only if the individual owns the homestead on the date the application for the deduction is filed. Deletes the requirement that a standard deduction may be claimed only if the applicant owns the property on March 1 (in the case of real property) or January 15 (in the case of a mobile home that is assessed as personal property).
    Current Status:
     In Committee - first House
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