Redevelopment area homestead property tax credit established, and money appropriated.

This bill creates a new property tax credit called the "redevelopment area homestead credit." This credit would apply to eligible properties in second-class cities designated as redevelopment areas. If passed, it would reduce property taxes for eligible homeowners by 70% of their property's net tax capacity multiplied by the city capital debt tax rate, starting with taxes payable in 2027.

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