Relates to additional real property tax exemptions for certain senior citizens

This bill allows local governments to create additional real property tax exemptions specifically for senior citizens with lower incomes. It authorizes municipalities to establish new income brackets below the current maximum eligibility level, offering higher tax relief percentages as household income decreases. Under the proposed schedule, households earning less than the maximum limit could qualify for exemptions ranging from 50% to 65% of their assessed property value. The changes would apply to taxable years starting on or after January 1, 2026.