HB1150

Amends the Property Tax Code to require annual affidavits for exempt property and outlines procedures for certification.

HB1150 amends the Property Tax Code to require annual affidavits for exempt property. Owners of exempt property must file an affidavit by January 31 each year, or May 31 for certain homestead exemptions. If a taxing district fails to file the required affidavit, the chief county assessment officer must notify the taxing district before terminating the exemption. The bill also outlines specific conditions under which certain properties are exempt from annual filings.