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S 803

Keep Americans Safe Act

119th Congress Introduced by Angela Alsobrooks and 22 co-sponsors

Bill S 803 allows towns with 69,000-69,500 residents to offer a homestead exemption, reducing property taxes for eligible homeowners and enhancing affordability.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 803

Summary of Bill S 803

Bill Number: S 803
Title: Authorizes a town with a population between 69,000 and 69,500 to enact a homestead exemption
Status: SIGNED CHAP.90
Introduced: January 08, 2025
Classification: Bill

Purpose and Intent

Bill S 803 aims to provide financial relief to homeowners in a specific demographic area by allowing towns with a population between 69,000 and 69,500 to implement a homestead exemption. This exemption is designed to reduce the taxable value of a primary residence, thereby lowering property taxes for eligible homeowners.

Key Provisions

  • Homestead Exemption Authorization: The bill grants towns within the specified population range the authority to enact a homestead exemption. This exemption allows qualifying homeowners to deduct a certain amount from their property's assessed value, which can lead to significant savings on property taxes.

  • Eligibility Criteria: While the bill does not specify the exact amount of the exemption or the criteria for eligibility, it establishes the framework for towns to create their own regulations regarding the implementation of the exemption.

Affected Parties

  • Homeowners: The primary beneficiaries of this bill are homeowners residing in towns with populations between 69,000 and 69,500. They will have the opportunity to reduce their property tax burden through the homestead exemption.

  • Local Governments: Towns will have the responsibility to establish the parameters of the exemption, which may involve administrative adjustments and potential impacts on local revenue from property taxes.

Legislative Timeline

  • January 08, 2025: Bill introduced and referred to rules.
  • January 13, 2025: Ordered to third reading.
  • January 22, 2025: Passed in the Senate and delivered to the Assembly.
  • February 05, 2025: Passed in the Assembly, returned to the Senate, and substituted for companion bill A 2436.
  • February 12, 2025: Delivered to the Governor.
  • February 14, 2025: Signed into law as Chapter 90.

Conclusion

Bill S 803 represents a significant step towards providing tax relief for homeowners in specific towns, allowing them to benefit from a homestead exemption. By enabling local governments to implement this exemption, the bill aims to enhance housing affordability and support community stability in the designated population range.

Compiled from official sources — confirm details with the bill’s official record.

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