HB2758 Summary

• Increases maximum income limitation for Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $75,000 beginning in taxable year 2019, but only for applicants who have occupied the residence for 5 or more years.

• Applicants who have occupied the residence for less than 5 years remain subject to the $65,000 income limitation.

• Implements automatic annual indexing of income limitations to the Consumer Price Index for All Urban Consumers beginning in taxable year 2020, with increases limited to the lesser of 2% or actual CPI increase.

• Applies effective immediately upon becoming law.