H.F. No. 24 Summary

• Reduces the property tax increase threshold for additional homestead refunds from 12 percent to 10 percent over the prior year's property taxes.

• Maintains the $100 minimum increase requirement and 60 percent refund rate on amounts exceeding the 10 percent threshold or $100, whichever is greater.

• Caps the maximum refund at $1,000 and excludes increases from home improvements or termination of valuation exclusions.

• Requires homeowners to file prior year property tax statements with refund claims and allows counties to provide eligible taxpayer information on request.

• Effective for refund claims based on taxes payable in 2021 and thereafter.