HB341 - CERTIFICATE OF VALUE - Lumpe, Sheila
HB341 PROVIDES FOR A CERTIFICATE OF VALUE TO BE FILED WITH CERTAIN TRANSFERS OF REAL PROPERTY.
Sponsor: Lumpe, Sheila (72) Effective Date:10/01/97
CoSponsor: LR Number:1074-01
Last Action: COMMITTEE: GOVERNMENTAL ORGANIZATION AND REVIEW
HB341
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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Available Bill Summaries for HB341
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Available Bill Text for HB341
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Available Fiscal Notes for HB341
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BILL SUMMARIES

INTRODUCED

HB 341 -- Certificate of Value

Sponsor:  Lumpe

This bill requires that a certificate of value be filed with the
assessor before the recorder of deeds can accept the filing of
any deed, instrument, or writing by which any lands, tenements
or other interest in real property be granted, assigned,
transferred or otherwise conveyed to or vested in the purchaser
or any other person or persons.  The certificate of value must
contain the actual amount of consideration or reasonable
estimate of the true current market value and a statement of
actual or intended use of property.  One copy of the certificate
of value will be forwarded to the State Tax Commission for use
on certain administrative tasks and one retained by the assessor
for the purpose of assisting in implementing general
reassessment or implementing an assessment and equalization
plan.  The bill makes certain exemptions from the requirements
and sets penalties for violations of certain requirements.

This bill will become effective on October 1, 1997.


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Last Updated August 11, 1997 at 4:12 pm