Introduced
by
To extend the extra amount of compensation that must be paid a homeowner if a unit of government takes his or her principle residence under eminent domain condemnation. Under current law, an extra amount must be paid equal to five years worth of the extra property tax the person would have to pay on a replacement home due to the Proposal A assessed value “pop up.” The bill would change this to 10 years if the person buys a new principle residence in the same community.
Referred to the Committee on Tax Policy
