HB 523 Summary

• Provides ad valorem tax exemptions for owners of manufactured homes or mobile homes who occupy them as primary residences at the same location for at least 5 consecutive years, with exemption amounts ranging from $6.00 to $300.00 based on assessed value.

• Grants enhanced exemptions for owners age 65 or older or totally disabled, allowing exemption from all ad valorem taxes on up to $7,500 of assessed value if occupied as primary home for at least 5 consecutive years.

• Applies exemptions regardless of whether the owner owns the land beneath the manufactured home or mobile home or how the property is assessed.

• Prohibits claiming exemptions under this act if the person already claims a homestead exemption under existing homestead exemption law.

• Effective January 1, 2014, with exemptions claimed in 2014 reimbursed in 2015 and subsequent years; does not affect prior tax assessments or claims.