This bill amends the General Property Tax Act by adding a new section, 7yy, which introduces a property tax exemption for individuals without dependents utilizing public schools or publicly funded educational services. Starting with taxes levied after December 31, 2026, such properties will be exempt from school-related property taxes. The exemption will be phased in, providing a partial reduction in taxable value for the years 2027 through 2030, with a full exemption of 100% for taxes levied in 2031 and thereafter.

The bill outlines the conditions under which the exemption applies, including the assumption of eligibility by local assessors unless evidence suggests otherwise. It also establishes a rebuttable presumption for wrongful denial of the exemption based on specific documentation. Additionally, the exemption does not apply to properties owned by private entities with owners who have dependents utilizing public educational services. The bill includes definitions for terms such as "public school," "publicly funded educational services," and "school-related property tax." The enactment of this bill is contingent upon the passage of three related bills in the 103rd Legislature.

Statutes affected:
House Introduced Bill: 211.1, 211.155