summary
Introduced
02/06/2026
02/06/2026
In Committee
02/24/2026
02/24/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that, for taxable years 2027 and thereafter, the maximum reduction for the general homestead exemption in all counties shall be the maximum reduction for the immediately preceding taxable year, increased by the percentage increase, if any, in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year. Effective immediately.
AI Summary
This bill amends the Property Tax Code to adjust how the general homestead exemption, which provides a reduction in a homeowner's property taxes, is calculated starting in taxable year 2027. Instead of a fixed maximum reduction, the bill mandates that for 2027 and subsequent years, the maximum reduction will be the amount from the previous year, increased by any percentage rise in the Consumer Price Index (CPI) – a measure of inflation published by the U.S. Department of Labor – during the 12 months ending on September 30 of the preceding year. This change aims to allow the homestead exemption's value to keep pace with inflation.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/24/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...