summary
Introduced
02/02/2026
02/02/2026
In Committee
02/10/2026
02/10/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
104th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that, beginning in taxable year 2026, 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. Effective immediately.
AI Summary
This bill amends the Property Tax Code to adjust the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption, a benefit that helps eligible seniors by freezing their property taxes based on their income. Starting with the taxable year 2026, the bill mandates that this maximum income limitation will automatically increase each year by the same percentage that the Consumer Price Index-u (a measure of inflation published by the U.S. Bureau of Labor Statistics) increased in the preceding 12-month period. This change aims to ensure that the income threshold for qualifying for the exemption keeps pace with inflation, preventing seniors from being disqualified due to rising costs of living.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Committee Amendment No. 1 Referred to Assignments (on 02/11/2026)
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