A bill for an act establishing a partial exemption on property taxes for certain residential properties sold in disaster areas.

Summary

The bill creates a partial property‑tax break for residential homes bought from the U.S. Department of Housing and Urban Development when the buyer is receiving the homestead tax credit. The exemption applies only to homes located in areas declared a major disaster by the President or a state disaster emergency by the governor, and it phases down over four assessment years. It aims to lower housing costs for disaster survivors.

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