HB4239 Summary

• Amends the Property Tax Code to modify homestead exemption provisions, including requirements for leasehold interests where the lessee must be liable for property taxes and lease documentation must include specific language regarding tax liability and rent adjustments.

• Sets maximum homestead exemption reductions at $6,000 for all counties for taxable years 2009 and thereafter, with an additional $5,000 exemption available for owners with household income of $30,000 or less during the first year after certain county provisions expire.

• Modifies tax sale procedures to require that beginning January 1, 2013, counties must either use an automated bidding system programmed for lowest redemption price bids or digitally record all tax sales with video and audio, with bidders required to personally attend sales.

• Requires any automated bidding systems and related hardware/software used in tax sales to be certified by the Department and re-certified every 5 years, with digital recordings maintained for at least 3 years.

• Takes effect upon becoming law, with no state reimbursement required for implementation of homestead exemption mandates.