Fiscal Note

HB0246 - Property Tax - Residential Exemption

State Impact:
Enactment of this bill will not require additional appropriations.

Individual, Business and/or Local Impact:
Enactment of this bill could lead to a shift of tax burden from the residential proerty eligible under this exemption to other residential and business properties not eligible for the exemption. The estimated shift is approximately $28,000,000 with $17,640,000 being shifted to other residential properties and $10,360,000 shifted to businesses and other properties.