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Committee adopts 3‑year property tax poverty exemption substitute for principal residences
Summary
The House Committee on Finance adopted the H‑2 substitute to House Bill 4041 to allow qualifying homeowners to remain on a poverty exemption for up to three years without annual reapplication; the substitute passed by recorded vote 14‑0.
The House Committee on Finance on Oct. 21 adopted the H‑2 substitute to House Bill 4041, which would permit a principal residence granted a property tax poverty exemption to remain exempt for up to three years without an annual reapplication under certain conditions, sponsor Representative Tyrone Carter said. The substitute passed on a recorded vote, 14‑0.
Representative Carter told the committee that the proposal is intended to reduce annual paperwork burdens for long‑term recipients whose circumstances…
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