Bill Title: Amends the Property Tax Code. Provides that, if the property owner gave notice of an omitted assessment, then (i) the property may not be assessed as omitted property for more than 5 years prior to the current assessment year and (ii) a charge for tax and interest for previous years shall not be made against the property for more than 5 years prior to the current assessment year. Requires the assessor to give notice of the assessment of omitted properties by registered or certified mail, return receipt requested. Provides that the notice must include the time period for requesting review of the assessment. Effective January 1, 2011.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed - Dead) 2010-11-15 - Placed on Calendar Order of 3rd Reading - Short Debate [SB3401 Detail]

Text: Latest bill text (Engrossed) [HTML]

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