GARCIA-FARLEY-SMITH. 35 ILCS 200/15-173 new Amends the Property Tax Code. Creates a property tax exemption for property that qualifies for special real property tax relief under the Longtime Owner-Occupant Property Tax Relief Act. Limits the exemption to the increase of real property taxes that is due to an increase in the market value of the property as a consequence of the refurbishing or renovation of other residences or the construction of new residences in long-established residential areas or areas of deteriorated, vacant, or abandoned homes and properties. Provides that the exemption may be granted until the longtime owner-occupant transfers title to the property. Provides that the assessor or chief county assessment officer may determine the eligibility of the property to receive the exemption by application, questionnaire, or other reasonable methods. Provides that the determination shall be made in accordance with guidelines established by the Department. Effective immediately. 98-02-17 S FIRST READING 98-02-17 S REFERRED TO SENATE RULES COMMITTEE RULES 98-02-18 S ADDED AS A CHIEF CO-SPONSOR FARLEY 98-03-12 S ADDED AS A CHIEF CO-SPONSOR SMITH 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary