Introduced
by
To exempt from the Proposal A taxable value “pop-up” homestead property that is purchased by a person on active duty military service while he or she is in the service. The “pop-up” is where 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 (as long as property values are rising.) The bill’s exemption would last until the buyer left active duty service.
Referred to the Committee on Military and Veterans Affairs and Homeland Security
