PROP TX-5-YEAR HOMESTEAD
Amends the Property Tax Code. Creates a homestead exemption for certain property located in Cook County that has been used as a qualified taxpayer's principal dwelling place for at least 5 continuous years as of January 1 of the taxable year. Provides that the aggregate amount of property taxes levied against that property in any taxable year may not exceed $5,000. Effective immediately.
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{# E23 (Nick, ruling section 1 answer 10): quoting a bill or a court opinion works
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