Bill > SB2710

This bill amends the Property Tax Code to provide that, beginning in taxable year 2024, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption shall be increased each year by the percentage increase, if any, in the Consumer Price Index-U. The Consumer Price Index-U is the index published by the Bureau of Labor Statistics that measures the average change in prices of goods and services purchased by all urban consumers in the United States. This amendment aims to automatically adjust the income limit for the exemption to account for inflation, ensuring that more senior citizens can continue to benefit from the property tax relief provided by this exemption.