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Bill

LC 1863

Provide property tax exemption for senior care facilities and housing

2025 Regular Session

Bill Summary: Provide Property Tax Exemption for Senior Care Facilities and Housing Main Purpose and IntentThe purpose of this bill is to provide a property tax exemption for senio

(LC) Draft Delivered to Requester
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Bill Summary · LC 1863

Bill Summary: Provide Property Tax Exemption for Senior Care Facilities and Housing

Main Purpose and Intent

The purpose of this bill is to provide a property tax exemption for senior care facilities and housing in the state. The intent is to reduce the tax burden on these types of properties in order to support and encourage the development of housing and services for the state's aging population.

Key Provisions

  • Establishes a property tax exemption for any real property that is used primarily for the purpose of providing:
    • Assisted living services
    • Skilled nursing care
    • Independent living for senior citizens
  • The exemption would apply to the land, buildings, and any personal property used in the facility's operations
  • To qualify, the facility must be licensed by the state and at least 80% of the residents must be aged 62 or older
  • The exemption would reduce the property's taxable value by 50%
  • Local governments would be required to grant the exemption, but would be reimbursed by the state for the lost tax revenue

Affected Parties

  • Senior care and housing providers, including assisted living facilities, nursing homes, and independent living communities
  • Elderly residents of these facilities, who would benefit from potentially lower housing costs
  • State and local governments, which would see reduced property tax revenue but be reimbursed by the state

Timeline and Procedure

  • This bill has been introduced as a draft (LC 1863) and has not yet been formally introduced in the legislature
  • If passed, the property tax exemption would take effect beginning in the 2026 tax year
  • The state would appropriate funds in the biennial budget to reimburse local governments for the lost revenue

Overall, this bill aims to support the growing need for senior care and housing by providing a financial incentive for these facilities through a property tax exemption. By reducing the tax burden, the state hopes to encourage the development and operation of more senior care options for its aging population.

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

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