HB 60: Home Owner’s Tax Credit
2007 General Session

Sponsor: Rep. Monte Olsen (R-H22, Daniel)

HB 60 would have simplified and expanded for one year a current state program that provides a tax credit to eligible homeowners.

Under the current program, homeowners qualify for the tax credit at two levels: if the assessed value of their home and property is less than $3,900 they qualify for a credit of $1,460 times the mill levy, and if the assessed value of their home and property is more than $3,900 but less than $5,850, they qualify for a credit of $590 times the mill levy.

HB 60 would have changed the eligibility criteria from the two levels of maximum home value to a single maximum of the median assessed value of homes in the same county. The amount of the credit would have been increased to $2000 of assessed value times the mill levy. These changes would have applied to property taxes imposed during the calendar year 2007.

HB 60 would have appropriated $5.3 million from the general fund to pay for the tax credits.

The House Appropriations Committee unanimously voted for a DO NOT PASS recommendation for the bill, and it died on general file in the House without further action.

INTRODUCED