Providing a property tax exemption for qualifying housing used as a residency by tenants meeting certain disability criteria.

This bill would create a property tax exemption for owners of qualifying housing, reducing the assessed value by $50,000 for each tenant who receives Social Security disability benefits or is a veteran receiving disability compensation. To receive this exemption, property owners must apply with the county assessor, and at least 80% of the tax savings must go to the qualifying tenant through reduced rent. This applies to both single-family and multi-family residential properties.

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