TAX EXEMPTIONS: Constitutional Amendment to remove the income limitation for persons age sixty-five or older that qualify for the special assessment level for residential property receiving the homestead exemption. (2/3-CA13s1(A)) (1/1/27) (EG DECREASE LF RV See Note)

SB 57 would create a new income limit for seniors aged 65+ who qualify for a homestead property tax exemption. Specifically, it prohibits individuals with adjusted gross income over $250,000 (as reported on federal tax returns) from receiving the special assessment, with the limit adjusted annually by the Consumer Price Index starting in 2027. This applies to both single and married filers (where combined income is used for "married filing separately"). The bill directly affects older homeowners seeking property tax relief under the homestead exemption program, effective for tax years beginning in 2027.