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Ways & Means reviews governor's property tax exemption proposal, staff flag distributional trade-offs
Summary
The Ways & Means committee reviewed the administration's property tax exemption framework, compared modeling to a staff draft, and paused action pending outside analysis; staff said the governor's plan would change who benefits and keep overall cost steady.
The Ways & Means committee discussed the governor's proposed property tax exemption for homeowners and compared it with a staff-drafted homestead exemption plan, but took no formal action and deferred further decisions pending outside analysis.
Committee members and staff focused on modeling that shows the administration's proposal would keep the program's total cost roughly the same as the existing property tax credit but change which households receive net tax relief. Julia (staff member) showed slides from Jake Feldman and described the administration's framework, saying, "this is the proposed framework," and explaining the income bands, percentage exemptions and estimated average impacts by…
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