PROP TX-HOMESTEAD EXEMPTIONS

Amends the Property Tax Code. Provides that, if the supervisor of assessment or assessor fails to either provide notice to a taxpayer of eligibility for the homestead improvement exemption or to grant the exemption automatically, then, within 10 years after the date that the improvement or rebuilding is completed and occupied, the taxpayer, upon application, is entitled to a retroactive application of the exemption under this Section. Provides that the retroactive application must continue for 4 taxable years. Effective immediately.