Senior and disabled homeowners exemption OR credit for excessive leasehold tax

From the 2024 DOR Tax Exemption Study

82.29A.120(1)(a)(i) - Senior and people with disabilities homeowners exemption OR credit for excessive leasehold tax Description A credit is allowed against leasehold excise tax for a property lease that would qualify a senior citizen and people with disabilities property tax exemption if the property were privately owned. The allowable credit is a proportionate amount of reduction that would result from the individual's property tax exemption. Purpose To provide tax relief to seniors and people with disabilities similar to the exemption allowed for property tax. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes Indeterminate Indeterminate Indeterminate Indeterminate Local Taxes Indeterminate Indeterminate Indeterminate Indeterminate Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 Indeterminate Indeterminate Indeterminate Local Taxes $0.000 Indeterminate Indeterminate Indeterminate Assumptions No data is available to determine if this exemption is being utilized, therefore the impact is indeterminate but assumed minimal. Data