AN ACT RELATING TO TAXATION -- PROPERTY TAX RELIEF

HB 5194 seeks to provide property tax relief to elderly and disabled persons who own or rent their homes. The bill increases the maximum income threshold for eligibility for property tax credits to $50,000. It also raises the maximum available tax credit to $850 for tax years beginning on or after January 1, 2026. Furthermore, the bill introduces annual adjustments to both the income range and the maximum credit based on the Consumer Price Index (CPI-U).