2011 House Bill 4643

Revise principle residence sale taxable value

Introduced in the House

May 17, 2011

Introduced by Rep. Bob Genetski (R-88)

To temporarily change the method of establishing the new “taxable value” of a principle residence property that is sold. Under the current system, the new taxable value of a property that is sold becomes the property’s market-based State Equalized Value as of the year after the transfer. Under the bill, through 2014 the current-year SEV would be used instead.