Introduced
by
To require the principal residence (homestead) property tax exemption affidavit form to state right on the form itself that if an affidavit has not been filed for a parcel by May 1, then the property tax exemption does not apply until the following year. The May 1 deadline only affects previously non-homestead property that is being converted to a principal residence, such as rental property, a vacation home, or a newly constructed home. If a person buys a principle residence with an existing exemption, that existing exemption continues, whether the transaction occurs before or after May 1.
Referred to the Committee on Tax Policy
