Introduced
by
To grant a homestead property tax exemption after May 1 to a person who acquires and occupies a homestead for which an exemption was not already on the tax roll on May 1. Under current law, if an owner has not filed the principal residence (homestead) property tax exemption for a residence by May 1, then the property tax exemption does not apply until the following year. The bill would prorate the tax exemption based on how much of the tax year has passed after the May 1 date.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To not prorate an exemption requested after May 1, but instead establish a second deadline of Oct. 1. A taxpayer would have to file an affidavit by May 1 for the next summer tax levy and all subsequent tax levies, or by October 1 for the next winter tax levy and all subsequent tax levies..
The substitute passed by voice vote
Passed in the Senate 36 to 0 (details)
To establish a second deadline od October 1 for a a new principal residence owner to file for a homestead property tax exemption, in addition to the current May 1 deadline. Under current law, if a new homeowner has not filed the principal residence (homestead) property tax exemption by May 1, then the property tax exemption does not apply until the following year.
Referred to the Committee on Tax Policy
Substitute offered
by
To replace the previous version of the bill with one that deletes the previous provisions and instead deals with foreclosing mortgage lenders; see House-passed version.
The substitute passed by voice vote
Passed in the House 97 to 2 (details)
To allow a mortgage lender who has foreclosed on a home to keep the 18 mill homestead property tax exemption for up to three years, as long as the property is for sale and not being rented out. This three year exemption also applies to a person who moves out of a principal residence.
Passed in the Senate 33 to 0 (details)
To concur with the House-passed version of the bill.
