Requires Director of Division of Taxation to include sales of properties in age-restricted developments by third parties in table of equalized valuations.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill requires the Director of the Division of Taxation to include sales of properties in age-restricted developments – such as those sold by guardians, trustees, or executors – when creating a table of equalized valuations used for local tax assessments. Currently, these sales are not included, but this legislation aims to ensure more accurate tax assessments in these communities by considering transactions involving third parties.
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