AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

HB 7151 allows the town of Jamestown to create a new property tax exemption program for seniors aged 65+ who own and occupy their primary residence. The bill establishes income-based exemption tiers (ranging from 10% to 60% of property value) based on household income relative to federal poverty guidelines, with strict residency requirements (5 years in Jamestown). It explicitly excludes income-producing properties (like home offices or rental units) and requires applicants to provide income documentation. This bill directly affects eligible Jamestown seniors meeting the income, residency, and property-use criteria.