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Committee advances bill raising income and value limits for Homestead Property Tax Deferral Program
Summary
House Bill 3712 A raises household income and homestead value thresholds for the Homestead Property Tax Deferral Program and directs a study on homestead equity by September 2026; the committee voted to send the bill to the floor with a due-pass recommendation.
The Senate Committee on Finance and Revenue on June 9 moved House Bill 3712 A to the Senate floor with a due-pass recommendation after a brief work session.
Committee staff summarized that HB 3712 A would increase the household income eligibility limit for the Homestead Property Tax Deferral Program from $60,000 to $70,000, raise the homestead real market value limit to 150% of the county median real market value for homeowners with residency under 15 years, and require the Legislative Revenue Officer to study homestead equity and submit a report to the legislature by September 2026.
There was no amendment to the bill in committee. Vice Chair McLean moved HB 3712 A to the floor with a due-pass recommendation; Senator Patterson volunteered to carry the bill on the floor. Committee members voted in favor and the chair closed the work session on the bill.
