Plain English Breakdown
The official digest confirms enactment, but does not specify if income limits apply beyond what is stated in the summary.
Lowndes County Property Tax Exemption for Older Residents
This law provides a property tax exemption on county taxes for Lowndes County residents who are at least 65 years old.
What This Bill Does
- Provides a $40,000 reduction in the assessed value of homes for county ad valorem taxes to residents aged 65 or older.
- Provides a $50,000 reduction in the assessed value of homes for county ad valorem taxes to residents aged 70 or older.
- Applies only to Lowndes County ad valorem taxes collected for county purposes.
- Sets definitions and specifies terms, conditions, and procedures for getting this exemption.
- Repeals laws that conflict with these new tax breaks.
Who It Names or Affects
- Residents of Lowndes County who are at least 65 years old.
- Lowndes County officials responsible for collecting property taxes.
Terms To Know
- Ad valorem tax
- A tax based on the value of a person's home or land, as mentioned in the bill title regarding county purposes.
- Homestead exemption
- A rule that lowers the taxable assessed value of a primary residence to reduce taxes owed.
Limits and Unknowns
- The official summary does not list specific forms or steps needed to apply for this exemption.
- It is unclear if there are income limits or other requirements beyond age and residency in the provided text.
- The law only covers taxes used by Lowndes County, so it may not lower school district or state taxes.