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(KXNET) — A bill looks to increase the income limits for the homestead property tax.
The tax credit is widely utilized by persons 65 years and older, or those of any age who are totally or permanently disabled. The tax credit would reduce the property taxes on the homestead in which they live.
AARP is in support of House Bill 1211, stating that property tax can be some of the most burdensome taxes for many low-income and older homeowners.
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“House Bill 1211 was introduced to raise the asset threshold from 500 to 700,000 for the homestead credit. The bill was amended to eliminate the asset requirements. The committee further amended the income brackets. The last time there was an increase was in 2017. Now the income brackets will only increase by 30%,” said Representative Jason Dockter from District 7.
House Bill 1211 has already passed the House Floor and will now head to the Senate.
