"Senior Citizens Property Tax Deferral Act"; allows certain seniors to defer property tax payments.

This bill, the "Senior Citizens Property Tax Deferral Act," allows eligible seniors aged 65+ to delay paying property taxes until they sell their home, move out, or pass away. To qualify, seniors must have a home valued under $500,000, no reverse mortgage, and an annual household income under $50,000. The deferral covers up to 110% of current property taxes (adjusted for existing rebates), but cannot exceed 75% of the home’s equity after liens. Applications must be submitted annually by April 1st to the local tax collector. The bill aims to prevent tax sales and foreclosure for low-income seniors facing financial hardship.