SB2673 Summary

• Increases the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption from $65,000 to $75,000 for taxable years 2024 and thereafter.

• Increases the maximum household income limit under the Senior Citizens Real Estate Tax Deferral Act from $65,000 to $75,000 for tax years 2024 and thereafter.

• Modifies the income thresholds for both programs, which previously provided $65,000 limits for tax years 2022-2023 and allowed for lower amounts in earlier years.

• Effective immediately upon enactment.