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Committee advances property-tax bill that phases down one circuit-breaker program; critics say seniors would lose relief
Summary
Senate Bill 197 would eliminate one circuit-breaker homeowner tax abatement over five years and retain a tax-deferral program that must be repaid on sale or transfer. The committee approved the bill on a 4–2 vote after extensive public testimony from seniors, housing groups and county officials.
Chairman Dan McKay, sponsor of Senate Bill 197, told the Revenue and Taxation Committee that the bill responds to lessons from recent circuit-breaker pilot programs and to concerns that the homeowner abatement creates incentives for older owners to remain in high-value homes rather than freeing housing supply.
Under the bill, one of the circuit-breaker programs that provided a tax abatement would be phased out over five years; the other program — a deferral that defers property taxes and creates a lien to be paid at a later transaction — would remain. McKay said many participants preferred the outright…
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