Senate Sponsors: GARCIA-FARLEY-SMITH. Short description: PROP TX-RENOVATION EXEMPTION Synopsis of Bill as introduced: Amends the Property Tax Code. Creates a property tax exemption for property that qualifies for special real property tax relief under the Longtime Owner-Occupant Property Tax Relief Act. Limits the exemption to the increase of real property taxes that is due to an increase in the market value of the property as a consequence of the refurbishing or renovation of other residences or the construction of new residences in long-established residential areas or areas of deteriorated, vacant, or abandoned homes and properties. Provides that the exemption may be granted until the longtime owner-occupant transfers title to the property. Provides that the assessor or chief county assessment officer may determine the eligibility of the property to receive the exemption by application, questionnaire, or other reasonable methods. Provides that the determination shall be made in accordance with guidelines established by the Department. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status