Discussion Continues Over Property Tax ReliefThere will be continued discussion over property tax relief this legislative session.
There will be continued discussion over property tax relief this legislative session.
Governor Dalrymple supports increasing the state's share of funding schools and that would decrease property taxes. A group of lawmakers came up with a few different ideas for property tax relief. The House Finance and Tax Committee took a look at two of the proposals today.
House Bill 1044 applies to homes only. It exempts taxing the first $75,000 of a person's home. For someone 65 or older the state will pay the tax on the first $125,000 of the value of the home.
Lawmakers proposed another bill today that would give all property owners a ten percent reduction in property taxes.