Bill > A3205

This bill revises the criteria for establishing the "base year," which is the tax year used to calculate property tax reimbursements for eligible claimants who relocate. Specifically, it clarifies that if an eligible claimant moves to a new homestead, their base year will continue to be the one applicable to their former homestead, unless the new homestead is new construction, in which case the base year becomes the first full tax year after its completion. The bill also introduces a provision that allows a claimant who moves to a new homestead to have their reimbursement calculated based on the property taxes assessed on the new homestead in the claimant's base year, even if they didn't occupy it then, as long as they resided there by December 31st of the tax year for which the reimbursement is claimed. This change aims to ensure that eligible claimants who relocate can still receive their property tax reimbursements based on their original base year calculations.