Fiscal Note

SB0132 - Property Tax Abatement or Deferral

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 in burden among property taxpayers. The shift will be dependent upon the number of taxpayers over 65 and those who meet the definition of poor who apply for a deferral. For each 25 percent over 65 who defer taxes there is a potential shift of approximately $13,500,000. For each 25 percent of those who are poor who defer taxes there is a potential shift of $12,400,000. There is a potential abatement of property taxes of approximately $1,000,000.