LD 1448 LR 1597(02)
An Act To Increase State Reimbursement to Municipalities for Revenue Lost Due to the Homestead Property Tax Exemption
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $0 $14,509,293 $19,638,821 $20,035,479
General Fund $0 $14,509,293 $19,638,821 $20,035,479
Fiscal Detail and Notes
The bill includes a General Fund appropriation to the Department of Administrative and Financial Services of $14,509,293 in fiscal year 2022-23 to increase the homestead property tax exemption from $25,000 to $30,000 effective April 1, 2022.