Increase in Property Tax Exemption Filing Fees

The act increases the amounts of certain fees, with subsequent adjustments for inflation or deflation, for filing forms and annual reports relating to exemptions of real and personal property from taxation as follows:

• The fee for claiming an initial exemption of real and personal property is increased from $175 to $200;
• The fee for filing an annual report containing information relating to property that has been granted exemption from taxation in previous years is increased from $75 to $110;
• The fee for filing a late annual report containing information relating to property that has been granted exemption from taxation in previous years that is filed later than April 15, but prior to July 1, is increased from $250 to $300; and
• The fee for filing a delinquent annual report containing information relating to property that has been granted exemption from taxation in previous years that is filed within a 12-month period commencing on July 1 of the year in which the annual report was due is increased from $250 to $300.

The act requires the property tax administrator to adjust the filing fees for inflation or deflation annually and to round the adjusted amount upward or downward to the nearest $5.

APPROVED by Governor April 18, 2024

EFFECTIVE July 1, 2024
(Note: This summary applies to this bill as enacted.)