HB 1818 Classifies time-share units as residential property for property tax purposes when the units are not rented and requires county assessors to consider certain factors when assessing real estate

     Handler: Kehoe

Current Bill Summary

- Prepared by Senate Research -

HCS/HB 1818 - This act modifies the definition of residential property for property tax purposes to include time-share units, unless they are rented. Where time-share units are rented, the county assessor is required to consider only the percentage of use subject to sales tax as commercial property.

This provision is identical to a provision of SS/SCS/HB 1170 (2012), similar to a provision of HCS/SB 591 (2012) and a provision of SCS/HCS/HB 1623 (2012).

This act also requires county assessors to consider foreclosures and bank sales when establishing the value of parcels of real property for property tax purposes.

This provision is identical to a provision of SS/SCS/HB 1170 (2012), SCS/SB 510 (2012), and similar to SB 52 (2011) and provisions contained within SB 671 (2010).

EMILY KALMER

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