H.486 is a bill introduced by Representative Durfee that aims to provide relief for late filed homestead declarations and enhance the property tax credit system. The bill proposes to extend the due date for submitting homestead declarations, allowing taxpayers more time to comply. Additionally, it seeks to increase the household income threshold that determines eligibility for property tax credits, as well as raise the amount of housesite value considered in calculating the credit.

These changes are intended to alleviate the financial burden on homeowners and ensure that more individuals qualify for property tax relief. By adjusting the income threshold and the housesite value, the bill aims to make the property tax credit more accessible and beneficial for a larger segment of the population.