Category: Economy, Budget and Taxes, Education

HB 680 (2015) establishing a homestead exemption for resident homeowners.

House/Senate Bill: House

Description: Makes various changes to the laws governing the statewide education property tax. In particular, this bill establishes the rate of the statewide education tax at $8 per 1,000 of the value of taxable property and transfers the authority to collect the education property tax from the municipalities to the Department of Revenue Administration. This bill establishes a homestead exemption from the education property tax for the first $250,000 of assessed value of homestead property. The bill also requires an annual transfer of $150,000,000 from the education trust fund to the general fund.

Bill Sponsor: Gilman Shattuck

Bill Co Sponsor: Click the "Link to Full Bill" for information

Next Hearing Date: Fri, 02/20/2015

Next Voting Date: Wed, 03/11/2015

Bill Status

Killed in the House

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