AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES -- TAX DEFERRAL PROGRAM

Summary

The bill lets eligible seniors, totally disabled citizens and totally disabled veterans postpone paying property taxes on their single‑family homes, including manufactured homes, until the property is sold or the owners die. Interest of 6% per year accrues and the deferred taxes become a lien on the property. The state sets up procedures, a $2 million fund, and penalties for misuse.

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