Sandack, Chief Sponsor of House Bills 4426 and 4429, said the legislation addresses an unforeseen issue with the Property Tax Extension Limitation Law. “When PTELL was created, it protected property owners from huge tax increases during the era when home values were increasing very quickly,” said Sandack. “I would imagine that the authors of the PTELL bill never imagined a scenario where that bill would actually hurt taxpayers. This legislation takes steps to freeze taxes when property values fall and helps people from getting taxed out of their homes during difficult economic times.” Read more.