Levy And Assessment Of Local Taxes
Levy And Assessment Of Local Taxes
Making Appropriations For The Support Of The State For The Fiscal Year Ending June 30, 2024
MAKING APPROPRIATIONS FOR THE SUPPORT OF THE STATE FOR THE FISCAL YEAR ENDING JUNE 30, 2025
Raises the earned-income tax credit from sixteen percent (16%) to thirty percent (30%) for the tax years 2025 and beyond.
Amends the capital gains tax rates and holding period from 5 years to 1 year. Imposes a non-owner occupied tax on homes assessed at more than $1,000,000.
Amends the capital gains tax rates and holding period from 5 years to 1 year. Imposes a non-owner occupied tax on homes assessed at more than $1,000,000.
Increases the state's regionalization bonus to six percent (6%) of the state's fiscal year share of foundation education aid and would be ongoing and continuing so long as the district remains a regional school district.
Establishes a statewide limit of twelve percent (12%) per year on interest charged by cities and towns on delinquent taxes.
Places a cap of twenty percent (20%) on increases in consecutive revaluations of real property in all cities and towns conducting revaluations commencing December 31, 2024, and every December 31 thereafter.