No. CS/HB 827
Filed under Taxes & Budget.
Disclosure of Estimated Ad Valorem Taxes; Requires certain listings to include estimated ad valorem taxes; prohibits current owner's ad valorem taxes from being displayed or used for certain purposes; provides requirements for listing platforms, DOR, & property appraisers; provides protection from liability for specified parties who take certain actions; prohibits certain materials from including specified information; requires, beginning on specified date, department to annually publish certain information on its website.
Plain English Summary
AI-GENERATEDOnline listing platforms must display estimated ad valorem taxes for residential properties, calculated using specific state-provided formulas or millage rates.
Current owners' ad valorem taxes are prohibited from being used to calculate estimates or displayed in printed listing materials.
The Department of Revenue must annually publish calculation formulas and countywide average millage rates to support these estimates.
Listing platforms and real estate licensees are protected from liability regarding the accuracy of the estimated tax figures.
AIRequires all residential property listings on public-facing online platforms to display estimated ad valorem taxes calculated from the listing price, not the current owner's assessment.
AIForbids using the current owner's ad valorem assessment or taxes to calculate estimated taxes, and restricts displaying current or previous year owner taxes to historical information only.
AIEliminates legal liability and causes of action against listing platforms and real estate licensees for the accuracy of the estimated ad valorem taxes they display.
AIRequires the Department of Revenue to annually develop and publish a tax calculation formula and countywide average millage rates, using data provided by property appraisers.