HB5439 Summary: Property Tax Code - Homestead Exemption Amendments

• Restricts homestead exemptions for leasehold interests in counties with 300,000+ population by prohibiting exemptions for lessees, while allowing them in smaller counties with specific lease requirements and annual notarized applications.

• Applies the leasehold restriction changes to five homestead exemption programs: returning veterans (15-167), disabled persons (15-168), senior citizens (15-170), senior citizens assessment freeze (15-172), and general homestead exemptions (15-175 and 15-177).

• Requires lessees in counties under 300,000 population to meet four conditions: submit notarized annual applications, file lease copies with assessment officers, have leases explicitly stating lessee pays taxes, and have leases requiring taxes paid from lessee's own funds.

• Exempts certain properties from the new leasehold restrictions, including long-term 99-year municipal leases and properties with pre-existing leasehold exemption rights under prior federal or state law.

• Requires property owners to notify county assessment officers within 30 days of changes in lessee or if lessee vacates the property.