Homestead Exclusion Constitutional amendment

Homestead Exclusion Constitutional amendment Homestead Exclusion Constitutional amendment - Start

2018-03-11 22K 22 0 0

Description

House Bill 1285. State Representative Lynda Schlegel Culver. 108. th. District. What is a Homestead?. “Under law, a homestead is defined as dwelling, including the parcel of land on which the dwelling is located and the other improvements located on the parcel…”. ID: 647172 Download Presentation

Embed code:
Download Presentation

Homestead Exclusion Constitutional amendment




Download Presentation - The PPT/PDF document "Homestead Exclusion Constitutional amend..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.



Presentations text content in Homestead Exclusion Constitutional amendment

Slide1

Homestead Exclusion Constitutional amendment

House Bill 1285

State Representative Lynda Schlegel Culver

108

th

District

Slide2

What is a Homestead?

“Under law, a homestead is defined as dwelling, including the parcel of land on which the dwelling is located and the other improvements located on the parcel…”

Slide3

What is a Homestead Property Exclusion?

“A homestead exclusion lowers a property owner’s tax bill by reducing the assessed value of the home before property taxes are levied.”

Slide4

Current Law

State Constitution permits local government – counties, municipalities and school districts – to exclude up to 50 percent of the median assessed home value from a homeowner’s tax bill.

The exclusion cannot exceed fifty percent of the median assessed value of a homestead property within a local taxing jurisdiction.

A local taxing authority is not permitted to increase the millage rate of its tax on real property to pay for the exclusion.

Slide5

For Example…

If the median assessed value of homes within your district is $100,000, the maximum allowable homestead exclusion is $50,000 (50 percent of $100,000.) The amount your local taxing jurisdiction permits as an exclusion would be subtracted from the assessed value of your home prior to your property tax rate being applied:

(Assessed Value – Homestead Exclusion) x Tax Rate = Tax Owed

Slide6

Nov. 7, 2017 General Election

Voters will have an opportunity to vote on a property tax reform measure.

The exclusion level can be increased to 100 percent of the assessed value of each homestead property within a local taxing jurisdiction.

If the referendum is approved by voters, the Pennsylvania Constitution will be successfully amended to include language in House Bill 1285.

Nothing will immediately change regarding the current Homestead Exclusion program.

Enabling legislation will need to be passed before any changes are seen in a local property tax bill.

Slide7

Enabling Legislation Would…

Provide the General Assembly the opportunity to implement guidelines and parameters as to how a local taxing jurisdiction could go about eliminating property taxes on homesteads.

Allow local or state taxes to be implemented or increased in order to provide the funds to replace the lost revenues from the elimination of the property taxes on homesteads.

Slide8

Contact information

State Representative Lynda Schlegel Culver

District Office

106 Arch St.

Sunbury, PA

570-286-5885

Part-Time Office

Milton Borough Building

2 Filbert St.

Milton, PA

570-742-6975

Open Monday-Friday, from 8:30-11:30 a.m.

Capitol Office

402B

Irvis

Office BuildingHarrisburg, PA 17120www.Facebook.com/RepCulverwww.LyndaCulver.com

Slide9


About DocSlides
DocSlides allows users to easily upload and share presentations, PDF documents, and images.Share your documents with the world , watch,share and upload any time you want. How can you benefit from using DocSlides? DocSlides consists documents from individuals and organizations on topics ranging from technology and business to travel, health, and education. Find and search for what interests you, and learn from people and more. You can also download DocSlides to read or reference later.