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LC 4310

Provide property tax rebates for principal residences

2025 Regular Session

Bill Summary: Provide Property Tax Rebates for Principal Residences (LC 4310) OverviewThis bill, designated as LC 4310, proposes the implementation of a property tax rebate program

(LC) Draft Delivered to Requester
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Bill Summary · LC 4310

Bill Summary: Provide Property Tax Rebates for Principal Residences (LC 4310)

Overview

This bill, designated as LC 4310, proposes the implementation of a property tax rebate program for homeowners residing in their principal residences. The primary intent of the legislation is to provide financial relief to qualifying homeowners by offsetting a portion of their annual property tax obligations.

Key Provisions

  • Eligibility Criteria: The rebate would be available to homeowners who occupy their property as their principal residence. This excludes investment properties, vacation homes, or other non-primary residences.
  • Rebate Amount: Eligible homeowners would receive a rebate equal to 10% of their annual property tax bill, with a maximum rebate of $500 per household.
  • Funding Source: The rebate program would be funded through a $50 million annual allocation from the state's general fund.
  • Application Process: Homeowners would be required to submit a simple application form to the state's Department of Revenue in order to receive the rebate. The application deadline would be March 31st each year.
  • Timeline: The property tax rebate program would be effective for the 2026 tax year and continue in subsequent years, subject to continued funding appropriations by the legislature.

Potential Impact

The proposed property tax rebate program is intended to provide financial relief to homeowners, particularly those with more modest incomes, by reducing the overall tax burden on their principal residences. This could help improve housing affordability and make it easier for residents to remain in their homes.

Based on current property tax data, it is estimated that the $50 million annual funding would provide rebates to approximately 100,000 eligible households across the state. This represents about 15% of all owner-occupied residences.

Procedural Details

LC 4310 is currently in the draft (LC) stage, meaning it has been delivered to the requester but has not yet been formally introduced as a bill in the state legislature. Once introduced, the bill would need to progress through the normal legislative process, including committee hearings, floor votes in both chambers, and the governor's signature in order to become law.

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

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