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PA HB329
Bill
Status
1/27/2025
Primary Sponsor
Dan Williams
Click for details
AI Summary
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Freezes school property taxes for homeowners aged 65 and older, preventing them from paying any school property tax increases above their base payment amount established in tax year 2025 or when they first become eligible
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Requires eligible senior citizens to have held a homestead exemption for at least five years and to have paid all property taxes in full to qualify for the freeze
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Directs the Commonwealth to reimburse school districts annually, beginning April 2025, for the difference between frozen base payments and actual tax amounts owed by eligible seniors
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Allows the tax freeze to transfer to a surviving spouse if they are at least 65 years old (or will be within six months) at the time of the claimant's death; otherwise the freeze terminates upon sale or transfer of the property
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Takes effect immediately upon enactment and amends the Taxpayer Relief Act to modify fund distribution formulas starting in fiscal year 2025-2026
Legislative Description
In State funds formula, further providing for certification and calculation of minimum and maximum modifiers and for Property Tax Relief Reserve Fund, providing for senior citizen tax relief and further providing for State property tax reduction allocation.
Last Action
Referred to Finance
1/27/2025