HB 2413

Abstract

Amends the Property Tax Code. In a Section concerning the Senior Citizens Homestead Exemption, provides that the assessor and the county recorder of deeds shall establish a policy and practice for the regular exchange of information for the purpose of alerting the assessor whenever a transfer of ownership of any property receiving a Senior Citizens Homestead Exemption has occurred. Provides that, if such a transfer occurs, the assessor shall mail a notice to the new owner of the property (i) informing the new owner that the exemption will remain in place through the year of the transfer, after which it will be cancelled, and (ii) providing information pertaining to the rules for reapplying for the exemption if the homeowner qualifies. Effective immediately.