Introduced House Bill (H)

Authored by

DIGEST

Property tax relief. Permits a board of county commissioners, a county council, a city-county council, or a city common council to establish a neighborhood enhancement property tax relief program. Specifies that under the program a property tax assessed value deduction is provided that reduces real property taxes on some longtime owner-occupants of residences. Provides that the residences must be located in designated distressed areas where real property values have risen markedly as a consequence of the renovation of other residences or the construction of new residences in the area. Specifies that the deduction is 90% of the increased value. Permits Property tax relief. Permits a board of county commissioners, a county council, a city-county council, or a city common council to establish a neighborhood enhancement property tax relief program. Specifies that under the program a property tax assessed value deduction is provided that reduces real property taxes on some longtime owner-occupants of residences. Provides that the residences must be located in designated distressed areas where real property values have risen markedly as a consequence of the renovation of other residences or the construction of new residences in the area. Specifies that the deduction is 90% of the increased value. Permits the adopting body to include a recapture requirement when the homestead is sold. ... View more