HB3054 Summary

• Increases the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $85,000 for taxable years 2024 and thereafter.

• Changes the income limit structure: maintains $65,000 for taxable years 2018-2023, then raises it to $85,000 for all qualified property starting in 2024.

• Applies to seniors age 65 and older whose household income does not exceed the maximum limitation and who own or have legal interest in their primary residence.

• Takes effect immediately upon becoming law.