HB2517 - Vacancy Fraud Act

• Creates a mechanism for taxing bodies to file complaints with county boards of review against property owners receiving vacancy relief who are not actively attempting to lease, sell, or alter their vacant properties.

• Establishes that county boards of review can review vacancy fraud complaints for properties that have received vacancy relief for 2 consecutive tax years if the first year is no more than 5 years prior to the current tax year.

• Identifies 10 factors boards may consider when determining if an owner is actively marketing or improving vacant property, including signage, newspaper/internet advertising, use of real estate professionals, pricing reasonableness, pending contracts, and permit applications.

• Authorizes penalties including: prohibiting future vacancy relief, requiring payment of 3 times back taxes owed, imposing interest up to 10% annually, and imposing additional penalties up to 25% for repeat violators penalized 2 or more times within 5 years.

• Requires back taxes be paid to taxing districts while interest and penalties go to the chief county assessment officer's office to fund public education on the Act.