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A05571 Summary:
| BILL NO | A05571 |
| SAME AS | No same as |
| SPONSOR | McLaughlin (MS) |
| COSPNSR | Stevenson, Calhoun, Saladino, Molinaro, Butler |
| MLTSPNSR | Hawley, Johns |
| Add SS431 & 901, RPT L | |
| Provides for the imposition of a fixed real property assessed value on residential property owned by persons 65 years of age or older, when such owners have a combined annual income of $100,000 or less and the property taxes on such property equals or exceeds 6% of the owners' combined annual income; provides for state reimbursement to municipalities for tax revenue lost pursuant to such fixed real property assessed value. | |