Freezes the assessed value of real property owned by persons aged sixty-five or over, for the purposes of determining taxes owed on such property

Summary

The bill prevents any increase in the assessed value of real estate owned by people who are sixty‑five years old or older. For tax purposes, the assessment is locked at the last valuation date before the owners reached age 65, even if the market value rises later. This is intended to lessen the property‑tax burden on senior homeowners.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share