Introduced
by
To require that the principal residence (homestead) property tax exemption affidavit form state 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 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 home that has an existing exemption (that is, is already someone else’s principal residence), the existing exemption is transferred and continues, whether the transaction occurs before or after May 1.
Referred to the Committee on Tax Policy
