Plain English Breakdown
The official text confirms an election is required but does not specify when it must occur or what happens if the vote fails beyond automatic repeal provisions.
Catoosa County School Tax Exemption for Residents Age 67 and Older
This law provides a $100,000 reduction in the assessed value of homes for Catoosa County school district taxes to residents who are at least 67 years old.
What This Bill Does
- Provides a homestead exemption from ad valorem taxes levied by the Catoosa County School District for educational purposes.
- Reduces the taxable assessed value of eligible homes by $100,000.
- Sets definitions and rules that residents must follow to get this tax break.
- Requires a referendum (vote) before the law takes effect.
- Includes provisions for automatic repeal if certain conditions are not met.
Who It Names or Affects
- Residents of the Catoosa County School District who live in their own homes as primary residences.
- People living in that school district who are 67 years of age or older.
- The Catoosa County School District, which collects the taxes.
Terms To Know
- Homestead exemption
- A reduction in property tax for people who live in their own home as a primary residence.
- Ad valorem tax
- A tax based on the assessed value of real estate or personal property.
Limits and Unknowns
- The law requires an election to be held before it becomes active.
- The bill does not list specific dates for when the election must happen, only that one is required.
- The exemption applies specifically to school district taxes and may not cover other local property taxes.