SB 226 Summary

• Reduces homestead exemption from state ad valorem taxes for permanently and totally disabled residents from a full exemption to a maximum of $20,000 in assessed value, effective for tax year beginning October 1, 2019.

• Applies the $20,000 cap to both Section 40-9-19 (general homestead exemptions) and Section 40-9-21 (additional exemptions for disabled and elderly residents with income under $12,000).

• Maintains the exemption limit of 160 acres in area and restricts exemption to one person per household for disabled residents.

• Allows the State Commissioner of Revenue to define permanent and total disability conditions and issue disability certificates; persons receiving military or government disability pensions automatically qualify.

• Takes effect for tax year beginning October 1, 2019, and all subsequent tax years.