Introduced
by
To exclude from the Proposal A taxable value "pop up" a transfer of real property from a parent to a child. The “pop-up” is a provision of the 1994 Proposal A property tax assessment cap in which 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 when property values are rising is lower.
Referred to the Committee on Tax Policy
