2004 House Bill 5538 ↩

House Roll Call 350: Passed

To extend the principle residence (or homestead) property tax exemption from local school operating taxes to platted but unimproved property owned by a builder or developer which is in the process of being developed for sale as single family homes or condominiums. Also, to exempt new construction on such property (spec homes), and the lot they occupy, from all property taxes until they are sold.