SUMMARY:  LC 28 7737  LC 28 8011S

Would create a new statewide homestead exemption if approved by the voters on 2016 November ballot.  If the property valuation increases more than 3% or CPI whichever is less, the homestead exemption would increase to offset the higher value. The exemption would apply to all property taxes -- state, county, city, and schools but not to property taxes to pay interest on and to retire bonded indebtedness.   

EFFECTIVE DATE:

 January 1, 2017 if passed by the voters.