HB0596 Summary

• Creates a landlord pandemic relief exemption in the Property Tax Code beginning in taxable year 2021 that reduces the assessed value of qualified income-producing properties.

• Requires applicants to demonstrate: property is income-producing, was subject to Executive Order 2020-10 and subsequent COVID-19 eviction moratorium orders, owner has financial burden from the moratorium, owner is liable for real estate taxes, and owner holds legal/equitable interest in the property.

• Exemption amount is capped at $10,000 per property, with the chief county assessor determining the specific exemption amount for each qualified property.

• Exemption is in addition to other homestead exemptions and requires no state reimbursement for implementation under the State Mandates Act.

• Takes effect immediately upon becoming law.