Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 65

Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 65; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.