Introduced
by
To increase the .75 percent real estate transfer tax to .85 percent on sales of principle residences that take place between April 30, 2006 and Jan. 1, 2008, and distribute part of the extra revenue to local governments, to compensate them for the lower property tax revenues that House Bill 6154 would cause. That bill would have the effect of permanently lowering property tax assessments (and future tax payments) on principle residence homes sold during the same period.
Referred to the Committee on Tax Policy
