Bill > S1015

This bill amends the existing law to increase the income eligibility limits for the homestead property tax reimbursement program, which provides a reimbursement for property taxes paid on a primary residence. Specifically, it adjusts the maximum annual income allowed for eligible claimants, both single and married, for tax years 2008 through 2016 and beyond, with further adjustments planned for subsequent years. The program, known as the "homestead property tax reimbursement," is designed to assist eligible claimants, defined as individuals aged 65 or older or disabled persons who own or lease a qualifying homestead and have a history of contributing to their communities through property tax payments, in receiving a refund for the difference between their property tax paid in a base year and a subsequent year, provided the base year amount was lower.