Renters’ Property Tax Relief and Homeowners’ Property Tax Credit Programs – Gross Income and Assessed Value Limitations – Alterations
What this bill does
Altering the definition of 'gross income' to exclude certain public assistance received in a cash grant for purposes of the renters' property tax relief program and the homeowners' property tax credit program; increasing the combined gross income limit used to determine eligibility for the tax credits; and increasing, from $300,000 to $450,000, the maximum assessed value of a dwelling on which the homeowners' property tax credit is calculated.
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