We have some improvements in the works that we're excited for you to experience.
to try our new, faster beta site.
We will be maintaining our current version of the site until the middle of CY 2023,
so you can switch back as our improvements continue.
DIGEST OF HB 1007 (Updated January 7, 2004 8:42 pm - DI 92)
Property tax credits and deductions. Allows a property owner to determine the year in which a five year residential rehabilitation property tax deduction period begins and allows a property owner to revive a deduction not taken for the assessment date in 2003 or an earlier year. Provides a property tax credit, phased out over four years, based on the amount by which a tax increase resulting from a general reassessment exceeds 75%. Provides a property tax credit to a homestead owner equal to the lesser of $2,000 or the amount by which property taxes exceed a percentage of the owner's adjusted gross income. Specifies that the assessed value of the homestead may not exceed $180,000, and that the owner must have owned the homestead for at least five years.