Honorable Fred Hill, Chair, House Committee on Local Government Ways and Means
FROM:
John Keel, Director, Legislative Budget Board
IN RE:
HB136 by Brown, Fred (Relating to limiting the amount of county or municipal ad valorem taxes that may be imposed on the residence homesteads of the elderly and their surviving spouses.), As Introduced
No fiscal implication to the State is anticipated.
The bill would extend the tax ceiling for qualified homeowners age 65 or older to all counties and cities or towns. The tax ceiling currently applies only to independent school districts. The corresponding constitutional amendment for this bill, House Joint Resolution 16, is self-enabling. Therefore, this bill would have no fiscal impact. Estimated revenue losses for the proposed tax ceiling are reflected on the fiscal note for the constitutional amendment.
Local Government Impact
No fiscal implication to units of local government is anticipated.