2014 House Bill 5552 ↩

Senate Roll Call 635: Passed

To exempt the transfer of residential property from a decedent to a trust whose beneficiaries are members of the decedent’s family from the taxable value “bump up,” wherein the new basis for property tax assessments becomes the property’s state equalized value (market value), rather than the capped “taxable value” of the previous owner. The exemption would apply when there is no change to the use of the property.