This bill modifies property tax relief provisions.
This bill:
- defines terms;
- expands household income eligibility and increases credit amounts for property tax relief in the form of a renter's credit, beginning in 2027;
- prohibits taxpayers from receiving property tax relief in the form of a homeowner's credit unless the taxpayer received the credit within the previous two years, beginning in 2027;
- removes requirements for annual inflation adjustments for a homeowner's credit;
- changes the qualifications, scope, duration, and rates of interest applicable to the discretionary and nondiscretionary property tax deferral programs, beginning in 2027;
- prohibits taxpayers from receiving indigent property tax abatement unless the taxpayer received an abatement within the previous two years, beginning in 2027;
- requires county auditors to include information on the property tax valuation notice regarding the availability of property tax deferral programs;
- requires county treasurers to include information on the tax notice regarding the amount of outstanding taxes and interest for taxpayers who receive a property tax deferral;
- prohibits taxpayers from receiving more than one form of property tax relief, with certain exceptions, beginning in 2027;
- requires property tax deferral revenue to offset the county's certified tax rate calculation;
- extends the delinquency period after which a tax sale listing is required for individuals 70 years old or older, from four years to 10 years;
- sets the interest rate at 6% for delinquent property tax and tax notice charges for individuals 65 years old or older;
- excludes a veteran's residential property from eligibility for the veteran armed forces property tax exemption if the veteran's household liquid resources exceed a certain amount; and
- makes technical and conforming changes.

Statutes affected:
Introduced: 59-2-919.1, 59-2-1317, 59-2-1331, 59-2-1343, 63J-1-602.2
Substitute #1: 59-2-919.1, 59-2-924.2, 59-2-1317, 59-2-1331, 59-2-1343, 63J-1-602.2