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Representative Kavanaugh proposes refundable property‑tax credit for seniors; committee discusses budget and distributional effects
Summary
Representative Kavanaugh introduced House Bill 14‑38 to create a dollar‑for‑dollar refundable state tax credit for homestead property taxes, focused initially on taxpayers aged 65 and older.
Representative Kavanaugh introduced House Bill 14‑38, a proposal to provide a dollar‑for‑dollar state income tax credit for taxpayers’ homestead property taxes, with initial focus on homeowners aged 65 and older.
Kavanaugh said the idea aims to ease what many constituents describe as the burden of paying property taxes on assets they already own. Under the draft language discussed in committee, the credit would be tied to the taxpayer’s homestead and—if a taxpayer’s credit exceeded their income tax liability—would be refundable (the sponsor said…
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