PA HB302

Amends the Taxpayer Relief Act to create a new state-funded property tax reduction for homestead and farmstead properties in Pennsylvania school districts

School districts would receive $1,000 per homestead and farmstead property from state appropriations to fund the tax exclusions

Property owners eligible for an additional exclusion equal to 50% of their school real estate tax or $1,000, whichever is less

School districts must report to the Department of Education the number of eligible properties and total tax reductions; the Department certifies these figures and sends them to legislative appropriations committees

Takes effect 60 days after enactment