Introduced
by
To allow a property owner to transfer ownership of his or her property to a corporation (or other type of “limited liability company”) that the person owns, without triggering the Proposal A “pop-up,” in which the state equalized value (SEV, meaning market value) of transferred property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner.
Referred to the Committee on Tax Policy
