PROP TX-AUTOMATIC HMSTD EXEMPT
Synopsis of Bill as introduced:
Amends the Property Tax Code. Deletes current provisions
concerning the application and approval process for the homestead
exemption. Provides that if, in counties with fewer than 3,000,000
inhabitants, based on the most recent assessment, the equalized
assessed value of the homestead property for the current assessment
year is greater than the equalized assessed value of the property for
1977, the owner of the property shall automatically receive the
exemption in the amount of the increase over the 1977 assessment up to
the maximum amount allowed.
FISCAL NOTE (Dept. of Revenue)
SB 1075 has no direct fiscal impact on this Dept.
STATE MANDATES FISCAL NOTE (DCCA)
SB1075 fails to create a State mandate.
Last action on Bill: PUBLIC ACT.............................. 90-0368
Last action date: 97-08-10
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status