Waives interest penalties for delinquent property taxes under specific conditions.
The bill amends the Property Tax Code to waive interest penalties for delinquent property taxes under certain conditions. It allows the county board to waive interest penalties for property in a decedent's probate estate if the representative applies for and is granted a waiver. Additionally, it permits the waiver of interest penalties for properties involved in redevelopment plans that benefit the public interest by remediating brownfield sites. The waiver applies from the date of the decedent's death until the property is sold, transferred, or the estate is closed.
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