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PA SB469
PA SB469Authorizing senior citizens to claim an exemption from tax increases as to certain real property; and providing for termination of the exemption.
summary
Introduced
03/14/2023
03/14/2023
In Committee
03/14/2023
03/14/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
Authorizing senior citizens to claim an exemption from tax increases as to certain real property; and providing for termination of the exemption.
AI Summary
This bill, the Senior Citizens' Property Tax Freeze Act, authorizes senior citizens aged 65 or older who have lived in their residential property for at least 5 consecutive years and have an annual income of no more than $65,000 to claim an exemption from increases in their real property taxes. The exemption terminates upon the sale or transfer of the property, except if the transfer is to another eligible senior co-owner. The Commonwealth's Department of Revenue will reimburse political subdivisions annually for the difference in taxes due to the exemptions. The bill applies starting in the 2024 tax year and repeals any inconsistent laws.
Committee Categories
Budget and Finance
Sponsors (7)
Lisa Boscola (D)*,
Jay Costa (D),
Jimmy Dillon (D),
Frank Farry (R),
Wayne Fontana (D),
Judy Schwank (D),
Tina Tartaglione (D),
Last Action
Referred to FINANCE (on 03/14/2023)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Services for the Elderly and Senior Citizens
bill text
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2023&sind=0&body=S&type=B&bn=469 | 03/14/2023 |
| BillText | https://www.legis.state.pa.us/cfdocs/legis/PN/Public/btCheck.cfm?txtType=PDF&sessYr=2023&sessInd=0&billBody=S&billTyp=B&billNbr=0469&pn=0453 | 03/14/2023 |
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