❌ HB266
Authorize temporary property tax credit for certain homesteads
Summary
The bill authorizes a temporary property tax credit for certain continuously owned homesteads, specifically for individuals who are permanently disabled, aged 65 or older, or surviving spouses of such individuals. The tax credit applies to real property taxes on homesteads owned and occupied by these individuals, with specific income thresholds and reduction amounts defined. The bill also outlines the application process and conditions under which the tax reductions are granted.
Rationale
The bill introduces a government-mandated tax credit that benefits specific groups, which conflicts with Libertarian principles advocating for minimal government intervention and taxation. It also establishes income thresholds and conditions that further entrench government control over property rights, opposing the Libertarian emphasis on individual property rights and free markets.
Risks and Concerns
- Increases government control over property rights
- Establishes income thresholds that may lead to further taxation
- Encourages dependency on government assistance