PA HR457

Directs the Legislative Budget and Finance Committee to study and report on eliminating property taxes for certain seniors in Pennsylvania within 120 days of adoption

Study must examine feasibility of exempting low-income seniors from property taxes and implementing a graduated scale with reductions for middle-income seniors

Study must identify precautions to prevent fraud or abuse of any senior property tax exemption or reduction program

Study must identify alternate revenue sources for municipalities and counties to replace lost property tax income from senior exemptions

Pennsylvania has over 2.5 million residents age 65+, with median annual property taxes of $2,223 and median school tax burden of $2,700, while average retirement income is $24,392 per year