Introduced
by
To require the closing statement in a real estate sale to disclose the new (higher) taxable value and property tax payments that the buyer will be subject to. This pertains to the Proposal A taxable value “pop 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 Tax Policy
