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Committee advances bill to raise Homestead Property Tax Credit from $375 to $425
REVENUE & TAX - SENATE · March 15, 2023
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Summary
The committee advanced HB1032 to increase the Homestead Property Tax Credit from $375 to $425; sponsor said DFA/DFNA reviewed pre‑COVID cash flows and that the change can be supported by sales‑tax receipts routed to a trust fund (staff noted half of the designated sales‑tax share funds the trust). The measure passed by voice vote.
The Senate Revenue & Tax Committee advanced House Bill 1032, a sponsor told the committee, to raise the Homestead Property Tax Credit from $375 to $425.
Senator Jimmy Hickey said the bill would "take it to $425"…
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