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SB22-164

Correction Property Tax Disclosure Information Metropolitan District

Concerning the substitution of the word "treasurer's" in place of the word "assessor's" in a statutory provision requiring disclosure of property tax information for purchasers of newly constructed residences within the boundaries of a metropolitan district.
Session:
2022 Regular Session
Subjects:
Fiscal Policy & Taxes
Local Government
Bill Summary

Statutory Revision Committee. In 2021, the general assembly enacted legislation (SB 21-262) that, among other things, required the disclosure of property tax information to purchasers of newly constructed residences within the boundaries of metropolitan districts. As part of this required disclosure, SB 21-262 required the owner of the property to provide to the seller a copy of the most current county assessor's property tax certificate. The county assessors do not issue tax certificates. The tax certificate is issued by the county treasurer. The bill corrects this single incorrect statutory reference by substituting the word "treasurer's" for the word "assessor's" requiring that each owner of real property that sells real property that includes a newly constructed residence, concurrently with or prior to the execution of a contract to sell the property, provide to the purchaser of the property a copy of the most current certificate of taxes due or tax statement issued by the county treasurer that is applicable to the property as an estimate of the sum of additional mill levies levied by other taxing entities that overlap the property in which the newly constructed residence is located.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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