Introduced
by
To revise the real estate sellers disclosure statement required in residential real estate transactions, to require the buyer to sign off separately on the section that describes how the buyer’s property taxes may be very different from the seller’s due to the Proposal A taxable value “pop-up.” 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 (usually) lower.
Referred to the Committee on Regulatory Reform
