Madison County; senior property tax exemption authorized; constitutional amendment

This bill proposes a constitutional amendment to allow Madison County residents aged 65 or older to claim a senior property tax exemption on their primary homes. The exemption would freeze the assessed value of the property at the rate before the exemption is claimed, protecting owners from future property value increases while still applying any new millage rates to the frozen value. To qualify, homeowners must have lived in the property as their main residence for at least five years before applying, and they must submit a written request to the county revenue commissioner between October 1 and December 31. The exemption can be claimed starting October 1, 2027, and would continue as long as the property remains the owner's primary residence. This change would require voter approval through a special election to amend the state constitution.