Bill > HB998

This bill proposes to increase the homestead exemption from ad valorem taxes for persons who are 65 years of age or older or who are totally disabled. Specifically, it would increase the homestead exemption from $7,500 to $12,500 of the assessed value of the homestead property, effective January 1, 2025. The bill also provides additional exemptions for certain qualified homeowners, such as unremarried surviving spouses of members of the U.S. Armed Forces killed or died on active duty. The exemption changes would apply to exemptions claimed starting in the 2025 calendar year.