SB 1312: Real property tax; high exemption locality reimbursements.

Summary

Real property tax; high exemption locality reimbursements. Provides that in tax year 2025 and all tax years thereafter, a high exemption locality, defined in the bill, shall be reimbursed by the Commonwealth for 50 percent of the exemption value, also defined in the bill, multiplied by the 2022 effective real property tax rate in such locality.

Latest recorded action

Passed by indefinitely in Finance and Appropriations (7-Y 6-N)

Jan 23, 2025

This is the latest action supplied by the source, not the full legislative history.

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