Introduced
by
To revise the current Proposal A “pop-up” in which the state equalized value (SEV, meaning market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner. The bill would require the new assessment to be based on the actual value of the property at the time of sale, rather than Dec. 31 of the previous year as under current law.
Referred to the Committee on Tax Policy
