8210-S AMS ZARE MOOR 024

SSJR 8210 - S AMD 276

   By    Senator Zarelli

   On page 2, line 11, after "real property." insert "The homestead exemption will not shift property taxes levied for state purposes. The state levy shall be reduced as necessary to prevent the value exempted under the homestead exemption from resulting in a higher tax rate than would have occurred in the absence of the homestead exemption."

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EFFECT: Provides that value exempted from the state property tax levy under the homestead exemption cannot be offset by shifting the tax burden to other properties.