Introduced
by
To exempt from the Proposal A taxable value "pop up" real estate that is transferred to low-income individuals from a charitable non-profit housing organization (like Habitat for Humanity). 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 is lower.
Referred to the Committee on Finance
