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DIGEST OF INTRODUCED BILL
Property tax reduction for timely payments. Provides a property tax credit to a real property owner that consistently pays real property taxes in a timely manner for the same property. Provides a credit for one year of 10% after five years of ownership and timely payments, 15% after ten years, and 20% after 20 years. Specifies that 2013 is the first year that may be used toward the consecutive year requirement.