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ID H0584
Bill
Status
4/3/2012
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Allows homestead property tax exemptions to continue for the year of death and the immediately following tax year if the property remains part of the deceased owner's estate, then requires reapplication by the new owner.
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Maintains exemption eligibility for properties whose owners are on active military service in designated combat zones, including when the homestead is leased due to such absence.
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Provides exemption refunds from county commissioners if an owner fails to timely apply solely due to active duty in a designated combat zone and the property would have otherwise qualified.
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Applies retroactively to January 1, 2012, and declares an emergency for immediate implementation.
Legislative Description
Amends existing law to provide for continuation of the homestead exemption for a time certain upon the owner's, beneficiary's, partner's, member's or shareholder's death.
PROPERTY TAX
Last Action
Governor signed Session Law Chapter 214 Effective: 01/01/12
4/3/2012