HB 5864

Abstract

Amends the Property Tax Code. Provides that for taxable years 2007 and thereafter, the amount of the Senior Citizens Assessment Freeze Homestead Exemption is the equalized assessed value of the residence in the taxable year for which application is made minus the base amount (now, the amount of the exemption is reduced based upon the taxpayer's household income). Provides that in counties having fewer than 3,000,000 inhabitants, the county board may, by resolution, provide that, if a person has been granted a Senior Citizens Assessment Freeze Homestead Exemption, then that person need not reapply for the exemption.