Homestead exemption; increase for persons 65 years of age or older or totally disabled.

Summary

The proposal amends state law to increase the property‑tax relief available to owners who are 65 or older or who are totally disabled. It creates a new sliding‑scale exemption based on the home’s assessed value and adds higher flat‑rate exemptions of $7,500 now and $14,000 beginning in 2027. The goal is to lower the tax burden for these vulnerable homeowners.

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