Concerning property tax relief for homeowners and renters.

Summary

The bill establishes a new homestead exemption that removes state property tax on the first $500,000 of a home’s assessed value, with the amount indexed to the growth of the state levy each year. It applies to single‑family dwellings, including certain manufactured and floating homes, and requires owners to file and renew a declaration with the county assessor. The exemption is limited to one residence per claimant and cannot exceed the total state tax that would otherwise be owed.

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

Topics

Share