This bill reinstates the program that stabilizes property taxes on homesteads of permanent residents 65 years of age or older for property tax years beginning on or after April 1, 2026. It limits stabilization to $900,000 of the assessed value of an eligible homestead and provides that an eligible individual may have the property tax stabilized on only one eligible homestead in a property tax year. It provides that a municipality may recover from the State the cost to administer the program.

Statutes affected:
Bill Text LD 1144, SP 475: 36.6281