HB 2672-S - DIGEST

 

              (DIGEST OF PROPOSED 1ST SUBSTITUTE)

 

     Provides a homestead exemption from the state property tax levy for each owner-occupied residence.

     Provides property tax exemptions for very low-income rental properties.

     Provides a procedure to lessen the impact of large property tax valuation increases.

     Requires approval by the voters of a proposed Constitutional amendment.