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A04664 Summary:

BILL NOA04664
 
SAME ASNo Same As
 
SPONSORMcLaughlin
 
COSPNSRRa, Giglio, Graf, Blankenbush, Montesano, Arroyo, Tenney
 
MLTSPNSRCeretto, Curran, Finch, Raia, Saladino, Thiele
 
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.
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