SB3150 - PROP TX-FLOOD HAZARD
Illinois - 103rd General Assembly
Introduced bySteve Stadelman
Last updated 8 months ago
1 Co-Sponsor
Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately.
STATUS
Introduced
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