Assembly considers rewrite of borough tax code; amendment would let seniors stack $25,000 exemption
The Assembly introduced an ordinance to reorganize borough tax chapters and heard two amendments, including one by Vice President Cooper and Mayor (name not specified in transcript) to remove a $350,000 cap so seniors could combine a recently expanded $25,000 exemption.
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The Assembly considered Ordinance 2025-21, brought by the mayor and cosponsored by an assembly member, to repeal and reenact KPB Chapter 5.12 (real property tax), enact KPB Chapter 5.11 (personal property tax), KPB Chapter 5.13 (tax exemptions, credits, and deferrals), and KPB Chapter 5.15 (tax appeals).
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