Staff Analysis of the Legislation
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SB 496 provides for new HOST tax which is in addition to the current HOST tax. The new HOST places all proceeds towards a HOST homestead exemption and allows proceeds to go to capital outlay only after the homestead exemption has been funded at 100%. The homestead exemption consists of two separate exemptions. First, is the actual exemption funded by the tax. Second, is the additional exemption to offset future millage rate increases. |