Bill > HB1105

This bill proposes an exemption from ad valorem taxes, which are taxes based on the assessed value of property, specifically for education purposes on the homesteads of qualified individuals who are 65 years of age or older. A homestead is the primary residence of a taxpayer. To receive this exemption, individuals must file an affidavit with their local tax officials, providing proof of age and other required information, though this affidavit only needs to be filed once in the first year the exemption is sought, with a duty to report any loss of eligibility. The exemption can also apply to properties where legal title is held by others but occupied by eligible individuals, or where a trustee or personal representative holds title for the benefit of eligible heirs or beneficiaries. The bill also amends existing law to make it unlawful to falsify information related to this exemption, classifying such an offense as false swearing. Crucially, this Act will only become effective if approved by voters in a referendum to be held on the November 2026 state-wide general election; if approved, the exemption will apply to taxable years beginning on or after January 1, 2027.