House Bill 1241 Summary

• Creates a property tax exemption for homesteads owned by individuals who are at least 65 years of age or their spouses, effective for assessment dates after January 15, 2011.

• Requires the individual with a qualifying interest to have continuously used the homestead as their principal place of residence for at least 10 years.

• Allows surviving spouses to continue receiving the exemption regardless of age or years of residence if the homestead was the principal residence on the deceased spouse's date of death.

• Sets filing deadlines for exemption applications: December 31 for real property and March 31 for personal property, with subsequent applications not required if property continues to meet exemption requirements.

• Exempts admission to health care facilities from being treated as a change in principal place of residence for exemption purposes.