| TO: | Honorable Fred Hill, Chair, House Committee on Local Government Ways and Means |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB3504 by Davis, John (Relating to the deferral or abatement of the collection of taxes on the residence homestead of an elderly or disabled person.), Committee Report 1st House, Substituted |
The bill would permit a 65-or-over homestead property tax deferral to be filed before property taxes become delinquent. The bill would require a collecting unit to wait to proceed with a pending lawsuit or foreclose of a tax lien on deferred property until 181 days after the individual who deferred taxes no longer owned the property. In addition, the bill would reduce the time frame for imposing the additional collection penalty to 90 days from 180 days after the deferral period expires. The bill would also permit a surviving spouse aged 55 or over to maintain a deferral or abatement following the death of the qualifying spouse. Since the bill would not impact taxable property values reported by the Comptroller to the Commissioner of Education, no fiscal impact to the State is anticipated.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JK, SD, WP, DLBe
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