Introduced
by
To exempt from the Proposal A property tax assessment “pop up” the purchase of home by a person who is related to the seller “by blood or affinity to the third degree” (which includes great grandparents or grandchildren, great uncles/aunts/nieces/nephews, second cousins, etc.). The “pop-up” is where the state equalized value (SEV, meaning market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Substitute offered
by
To replace the previous version of the bill with one that narrows the proposed exemption to transactions between parents and children.
The substitute passed by voice vote
Passed in the House 105 to 4 (details)
To exempt from the Proposal A property tax assessment “pop up” the purchase of home by parent or child of seller. The “pop-up” is where the state equalized value (SEV, meaning market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Substitute offered
The substitute passed by voice vote
Passed in the Senate 32 to 5 (details)
To exempt from the Proposal A property tax assessment “pop up” the purchase of home by parent or child of seller. The “pop-up” is where the state equalized value (SEV, meaning market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner.
Substitute offered
by
The substitute passed by voice vote
Passed in the House 101 to 5 (details)
Passed in the Senate 32 to 6 (details)
