![]() Homeowners around the state, especially in metropolitan areas, are seeing massive increases in their assessments due to the recent rise in real estate prices. “Many of us agree that there is a real problem with seniors right now that are on fixed incomes dealing with inflation and property taxes are a big part of that,” Merideth said. The bill’s property tax language began as a cap on increases in assessments for all property owners. The Republican House leadership was pushing for a $1 billion cut in corporate and income taxes. “But honestly, to me, it was the best of the options presented.” “I was not thrilled with it,” Merideth said. Under current law, exemptions allowed for retirement income are phased out for single taxpayers earning more than $85,000 and married couples with incomes above $100,000.
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