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2009 SESSION

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HJ 122 Constitutional amendment; localities computation of real estate taxes (first reference).

Introduced by: G. Manoli Loupassi | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); real estate tax partial exemption.  Requires localities to compute real estate taxes based on no more than a five percent increase in the assessed value on the primary residence of an owner after he has occupied it for five years.  The taxes of any new owner of the dwelling shall be based on fair market value until the new owner has occupied the dwelling for five years.


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