ID H0036

Removes the property value limitation that previously required homeowners with assessed home values exceeding $300,000 or 150% of median county assessed valuation to be referred to the property tax deferral program instead of receiving property tax reduction.

Maintains the exemption for veterans with service-connected disabilities rated at 100% or individual unemployability compensation at 100% by the U.S. Department of Veterans Affairs, who remain eligible for property tax reduction regardless of home value.

Preserves income limitations for the property tax reduction program at a maximum of $31,900 per household or 185% of federal poverty guidelines, whichever is greater, for tax year 2021 and thereafter.

Retains the maximum property tax reduction amounts of $1,500 at the lowest income level and $250 at the highest income level, prorated based on income.

Declares the act an emergency measure with retroactive application to January 1, 2023.