Introduced
by
To revise the particular warning in the seller disclosure form required in residential real estate transactions which informs buyers that their taxable value and property tax payments will not be the same as the that of the seller. This pertains to the Proposal A taxable value “bump up,” where the new basis for property tax assessment becomes the property’s state equalized value (market value), rather than the (lower) capped “taxable value” of the previous owner.
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
