SF0161: Residential property-acquisition value.
Legislative Summary
AN ACT relating to ad valorem taxation; establishing a rebuttable presumption in favor of acquisition value for specified real property; establishing fair market value of residential real property based on the date the property was last acquired; clarifying the use, disclosure and confidentiality of sworn statements for specified real property; providing definitions; making conforming amendments; requiring rulemaking; and providing for effective dates.
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