State Representative Jason Stephens (Kitts-Hill) will unveil a bill tomorrow that will increase the homestead exemption amount every year at the rate of inflation. The current homestead exemption allows low-income senior citizens and disabled veterans to reduce their property taxes by lowering the market value of their homes per tax purposes. However, the exemption amount has remained the same for years. This will bill would add a tax cut and huge relief to senior citizen and disabled veteran homeowners.
December 5, 2019