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2012 SESSION
HB 1073 Residential rental properties; appeal of real property assessments, fair market value.
Introduced by: Timothy D. Hugo | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Real property tax; valuation of residential rental apartments. Requires that, in any appeal to a board of equalization concerning the fair market value of residential apartments in excess of four units, the board use the income approach to valuation, unless certain specified exceptions exist. Criteria to be used in making this determination include actual gross income generated, losses due to vacancies, collection losses, and rent concessions, as well as actual operating expenses and expenditures. The bill contains an emergency clause and is effective for tax years beginning on or after January 1, 2012. The bill is identical to SB 73.
FULL TEXT
- 01/11/12 House: Prefiled and ordered printed with emergency clause; offered 01/11/12 12103412D pdf | impact statement
- 02/08/12 House: Committee substitute printed 12105130D-H1 pdf | impact statement
- 03/08/12 House: Bill text as passed House and Senate (HB1073ER) pdf | impact statement
- 04/04/12 Governor: Acts of Assembly Chapter text (CHAP0536) pdf
HISTORY
- 01/11/12 House: Prefiled and ordered printed with emergency clause; offered 01/11/12 12103412D
- 01/11/12 House: Referred to Committee on Finance
- 01/20/12 House: Assigned Finance sub: #1
- 02/06/12 House: Subcommittee recommends laying on the table by voice vote
- 02/08/12 House: Reported from Finance with substitute (22-Y 0-N)
- 02/08/12 House: Committee substitute printed 12105130D-H1
- 02/10/12 House: Read first time
- 02/13/12 House: Read second time
- 02/13/12 House: Committee substitute agreed to 12105130D-H1
- 02/13/12 House: Engrossed by House - committee substitute HB1073H1
- 02/14/12 House: Read third time and passed House (100-Y 0-N)
- 02/14/12 House: VOTE: PASSAGE EMERGENCY (100-Y 0-N)
- 02/15/12 Senate: Constitutional reading dispensed
- 02/15/12 Senate: Referred to Committee on Finance
- 02/29/12 Senate: Reported from Finance (14-Y 0-N)
- 03/01/12 Senate: Constitutional reading dispensed (39-Y 0-N)
- 03/02/12 Senate: Read third time
- 03/02/12 Senate: Passed Senate (39-Y 0-N)
- 03/08/12 House: Enrolled
- 03/08/12 House: Bill text as passed House and Senate (HB1073ER)
- 03/08/12 House: Signed by Speaker
- 03/09/12 Senate: Signed by President
- 04/04/12 Governor: Approved by Governor-Chapter 536 (effective 4/4/12)
- 04/04/12 Governor: Acts of Assembly Chapter text (CHAP0536)