Counties could exempt qualifying older residents from property taxes

A county council could exempt all qualifying homes in its county from property tax. The home must receive the standard main-home tax break. It must be the main home of someone 65 or older who owns it, is buying it under a contract, or benefits from its ownership through another owner. Officials must hold a public hearing before approving the exemption. Residents must apply. The exemption would erase property tax left after other tax breaks, including tax approved by voters. If enacted, this county option would take effect July 1, 2026.

Many listed property tax exemptions would apply only to assessments before January 1, 2027. The listed exemptions include property of nonprofit water providers, certain airports, and employers providing licensed child care on their property. Each property must meet the ownership and use rules for its exemption. The cited exemptions would apply only to assessment dates before January 1, 2027. Their sections would expire January 1, 2028.

Officials could not first designate certain tax break zones or allow first-time property tax deductions after 2030. The limits cover economic and brownfield revitalization zones and property tax deductions under three specified programs. A deduction first allowed or approved before January 1, 2031, could continue until its scheduled end. The limits would apply after December 31, 2030.