Senior Citizens Property Tax Relief Act

Summary

Senior Citizens Property Tax Relief Act - Title I: Findings and Purposes - States that the purposes of this Act are to provide property tax relief and reform for persons over 62. Title II: The Office of Property Tax Relief - Establishes the Office of Property Tax Relief to administer the real property tax relief programs under this Act and provide assistance to State and local governments in dispersing such tax relief information to the elderly. Title III: Real Property Tax Relief for Senior Citizens - Authorizes the payment to States operating a real property tax relief program for the elderly of one-half the cost of such program, other than administrative costs. Requires a qualifying program to provide by way of cash payments, tax credits, refunds, or otherwise, relief from real property taxes equal to the lesser of a determined amount not in excess of $500 per year or an amount by which such taxes exceed a specified percentage up to 7 percent of the taxpayer's household income. Limits such relief to persons with household incomes under $14,000. Title IV: Dispersement of Information - Requires the Office to assist States in dispersing easily understandable information about such tax relief programs. Title V: Appropriations and Effective Date - Authorizes appropriations of sums necessary to carry out this Act.

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• Introduced in House

  summary · EN · 21 June 1974

  Open at official source

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