Bill Title: Amends the Property Tax Code. Creates a homestead exemption for eligible property that contains a single family residence that was built no earlier than January 1, 2021 by a municipality and was sold to a private homeowner before January 1, 2035. Provides that the exemption applies for a 10-year period beginning with the tax year following the year in which the property is first sold by the municipality to a private homeowner. Sets forth the amount of the exemption. Effective immediately.

Spectrum: Partisan Bill (Democrat 14-0)

Status: (Passed) 2024-08-09 - Public Act . . . . . . . . . 103-0793 [HB1377 Detail]

Text: Latest bill text (Chaptered) [HTML]

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