MOLARO. 35 ILCS 200/15-185 new Amends the Property Tax Code. Creates an airport neighbor homestead exemption. Provides that, beginning in taxable year 2000, an annual airport neighbor homestead exemption limited to a maximum reduction of $4,500 from the equalized assessed value of the property is granted for homestead property located within an airport noise zone. Provides that "airport noise zone" means all real estate impacted by noise emanating from aircraft that is greater than 65 LDN, as determined by the most recent noise contour map approved by the Federal Aviation Administration or other specified means. Exempts the provisions of this amendatory Act from the reimbursement requirements of the State Mandates Act. Effective immediately. 00-01-12 S FIRST READING 00-01-12 S REFERRED TO SENATE RULES COMMITTEE RULES 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary