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Bill

H 3410

Property tax exemption

2025-2026 Regular Session Introduced by Don Chapman and 3 co-sponsors

H 3410 - Property Tax Exemption OverviewBill Number: H 3410 Title: Property Tax Exemption Status: Referred to Committee on Ways and Means Introduced: February 27, 2025 Purpose a

Referred to Committee on Ways and Means
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Bill Summary · H 3410

H 3410 - Property Tax Exemption

Overview

Bill Number: H 3410
Title: Property Tax Exemption
Status: Referred to Committee on Ways and Means
Introduced: February 27, 2025

Purpose and Intent

The purpose of this bill is to provide a property tax exemption for certain homeowners in the state. The intent is to offer tax relief and make home ownership more affordable, especially for low-income and elderly residents on fixed incomes.

Key Provisions

  • Establishes a property tax exemption of up to $50,000 of a home's assessed value for owner-occupied primary residences
  • Eligibility is limited to households with an annual income of $75,000 or less for single filers, or $100,000 or less for joint filers
  • The exemption applies to both state and local property taxes
  • Homeowners must be at least 65 years old or have a documented disability to qualify
  • The exemption is portable, allowing homeowners to maintain the benefit if they move to a new primary residence

Affected Parties and Impacts

  • This bill would directly benefit low-income and elderly homeowners by reducing their property tax burden
  • It could make home ownership more accessible and affordable, especially in high-cost housing markets
  • Local governments may see a decrease in property tax revenue, which could impact budgets and the provision of public services

Procedural and Timeline Considerations

The bill has been referred to the Committee on Ways and Means for further consideration. If it passes committee, it will then move to a full vote in the state legislature. If enacted, the property tax exemption would take effect starting in the next tax year.

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

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