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Subcommittee reviews optional local property tax credit to support Habitat for Humanity homes
Summary
The Ways and Means Local Revenue Subcommittee discussed a bill authorizing an optional local property tax credit that would offset the gap between assessed value and a homeowner's below-market mortgage on Habitat for Humanity homes; legislators asked technical questions and no vote was held.
The Local Revenue Subcommittee of the Ways and Means Committee met Tuesday to review a bill authorizing an optional local property tax credit aimed at supporting affordable homes built by Habitat for Humanity.
Stan, a legislative staff member who gave the bill synopsis, said the proposal would allow a county to offer a credit equal to the difference between a home's assessed…
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