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1994 SESSION

• | print version

SB 316 Assessment of fair market value.

Introduced by: Frank W. Nolen | all patrons    ...    notes | add to my profiles

SUMMARY:

Assessment of fair market value. Provides that localities may elect to adjust their real property assessments annually by reference to the Department of Taxation's annual sales assessment study and that such assessments shall be deemed presumptively correct, subject to rebuttal by either the taxpayer or the taxing authority. Such a methodology could save the locality the costs of undertaking a general reassessment while its property values tracked what might be regarded as a reliable predictor of changes in fair market value.

FULL TEXT

• 01/25/94  Senate: Presented and ordered printed  pdf

HISTORY

• 01/25/94  Senate: Presented and ordered printed
• 01/25/94  Senate: Referred to Committee on Finance
• 02/16/94  Senate: Left in Finance