Introduced
by
To exclude from the Proposal A taxable value "pop up" a transfer of real property that terminates a joint tenancy created before December 31, 1994. Joint tenancy is a form of property ownership where if one owner dies the other becomes sole owner of the property. The “pop-up” is a provision of the 1994 Proposal A property tax assessment cap in which the state equalized value (market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner, which is lower.
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Amendment offered
by
To establish that the joint tenancy being dissolved had to have been recognized on a recorded deed.
The amendment passed by voice vote
Passed in the House 108 to 0 (details)
Referred to the Committee on Finance
