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Panel backs raising income limit for property-assessment freeze for seniors to $150,000 and CPI indexing
Summary
The committee adopted amendments and reported House Bill 300, raising the income eligibility for the property-assessment freeze for seniors from $100,000 to $150,000, authorizing CPI adjustments beginning in 2028, and adding language to prevent reassessment-triggered millage adjustments tied to the special assessment.
House Bill 300, sponsored by Representative Mack, was reported with amendments after committee members adopted a two-page, seven-amendment package that increases the income ceiling for the special-assessment level used by seniors for a valuation freeze and adds protections related to reassessments and millage adjustments.
Under the amendment set (2,632), the income threshold that qualifies a homeowner age 65 or older for the special assessment level would increase from $100,000 to $150,000. The amendment also authorizes the threshold to be adjusted for inflation (CPI) beginning with tax year 2028. Committee counsel said the amendments also add constitutional language (as the bill amends a constitutional provision) clarifying that the implementation of the special assessment level shall not trigger reappraisals nor obligate other taxpayers to absorb decreases in tax collections and that any decrease shall be absorbed by the taxing authority.
Supporters said the change will keep many seniors from seeing dramatic property-tax increases after reassessment years; opponents and some committee members asked detailed questions about how the freeze interacts with millage adjustments and whether the freeze requires recertification after reassessment. Committee members and staff clarified that the freeze applies to principal residences for qualifying seniors and that the amendments were developed with assessors and industry representatives.
After discussion, the committee adopted the amendments and reported House Bill 300 with amendments.
