HB1728 amends the Property Tax Code to apply the long-time occupant homestead exemption in all counties starting with taxable year 2026.
HB1728 amends the Property Tax Code to apply the long-time occupant homestead exemption in all counties starting with taxable year 2026. The exemption applies to qualified taxpayers who have occupied the same homestead property for at least 10 continuous years or 5 continuous years with assistance in the acquisition of the general homestead deduction. The exemption amount is the greater of the equalized assessed value minus the adjusted homestead value or the general homestead deduction.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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