Introduced
by
To revise details of seller disclosure statements in residential real estate transactions, by adding a requirement to include an estimate of the buyer’s property tax liability, and a warning that this will be different due to various factors including assessment changes and a Proposal A taxable value “bump up,” where the new basis for property tax assessment becomes the property’s state equalized value (market value), rather than the (lower) capped “taxable value” of the previous owner.
Referred to the Committee on Commerce and Tourism
