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2000 SESSION

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SB 586 Local recordation taxes.

Introduced by: Thomas K. Norment, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Local recordation taxes. Beginning July 1, 2001, authorizes cities and counties to impose local recordation taxes at a rate of two-thirds of the state tax on the recordation of deeds. Under current law, cities and counties are authorized to impose recordation taxes at a rate of one-third of the state tax on the recordation of deeds. Any amount collected attributable to the increase in such rate shall be used exclusively for certain specified purposes including transportation additions and improvements and public education.


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