| 1 | Representative(s) Cannon offered the following: |
| 2 |
|
| 3 | Amendment to Amendment (749169) |
| 4 | Remove line(s) 271-296 and insert: |
| 5 | year, such person shall receive only the exemption provided in |
| 6 | this subsection or the application of the cumulative assessment |
| 7 | limitation calculated pursuant to subsection (c) of Section 4, |
| 8 | whichever provides the lowest taxable value. The exemption |
| 9 | provided under this subsection shall apply to all levies other |
| 10 | than school district levies the exemption shall be increased to |
| 11 | a total of twenty-five thousand dollars of the assessed value of |
| 12 | the real estate for each school district levy. By general law |
| 13 | and subject to conditions specified therein, the exemption for |
| 14 | all other levies may be increased up to an amount not exceeding |
| 15 | ten thousand dollars of the assessed value of the real estate if |
| 16 | the owner has attained age sixty-five or is totally and |
| 17 | permanently disabled and if the owner is not entitled to the |
| 18 | exemption provided in subsection (d). |
| 19 | (d) By general law and subject to conditions specified |
| 20 | therein, any person who is entitled to receive the homestead |
| 21 | exemption provided in subsection (a), who has attained age |
| 22 | sixty-five, and whose household income, as defined by general |
| 23 | law, does not exceed $23,604 is also entitled to an additional |
| 24 | exemption in an amount equal to one hundred percent of the |
| 25 | median just value of homesteads in the county in which the |
| 26 | homestead is located for the prior year. However, in any year, |
| 27 | such person shall receive only the exemption provided in this |
| 28 | subsection or the application of the cumulative assessment |
| 29 | limitation calculated pursuant to subsection (c) of Section 4, |
| 30 | whichever provides the lowest taxable value. The legislature |
| 31 | shall provide for an annual |