summary
Introduced
02/02/2026
02/02/2026
In Committee
02/02/2026
02/02/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
AI Summary
This bill establishes a new property tax exemption for homeowners who have continuously owned, used, and occupied their property as their primary residence for at least 30 years. This exemption, called the "30-year property homestead exemption," will apply starting in the 2026 tax year. To qualify, a "qualified taxpayer" (an individual who has lived in the same home as their principal residence for at least 30 continuous years) must own "qualified homestead property," which is defined as residential property that is their principal residence and domicile, or a single-family residence where they are a lessee liable for property taxes and occupy it as their principal residence. While the exemption is intended to provide relief to long-term homeowners, those who receive it will need to reapply annually. The bill also outlines how tax officials can verify eligibility, including through applications, inspections, questionnaires, or other reasonable methods, and allows for information sharing between government entities. Furthermore, it amends the State Mandates Act to clarify that any costs incurred by local governments to implement this new exemption will not be reimbursed by the state, and the bill takes effect immediately upon becoming law.
Sponsors (1)
Last Action
Referred to Assignments (on 02/02/2026)
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