Homestead exemptions

A BILL TO AMEND SECTION 12-37-250(A)(1) OF THE 1976 CODE, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION ALLOWED FOR TAXPAYERS WHO ARE OVER THE AGE OF SIXTY-FIVE YEARS, DISABLED, OR LEGALLY BLIND, TO INCREASE THE EXEMPTION AMOUNT FROM THE FIRST FIFTY THOUSAND DOLLARS TO THE FIRST SEVENTY-FIVE THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND TO REPEAL SECTION 12-37-245 OF THE 1976 CODE, RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.