February 25, MACo Legislative Director Andrea Mansfield opposed SB 375, Homestead Property Tax Credit- Application Requirement- Repeal, to the Senate Budget and Tax Committee. The Homestead Property Tax Credit Application has improved the fairness of the program and repealing the application process would allow for abuse of the Homestead Credit.
The written testimony explains:
To ensure that the credit was being applied for primary residences only, 2007 legislation Ch.565 Acts of 2007, created a simple application process through the income tax form or other means, to establish a homeowner’s claim of a property as “owner occupied” for purposes of the Homestead Tax Credit program. Until this process was put in place, a substantial number of properties were enjoying this tax credit without actually qualifying under the law, such as rental properties or second homes.
For more on MACo’s 2015 legislation, visit the legislative database.