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HB 1157 - Ad valorem tax; fair market value with respect to the valuation of certain intangible property; redefine
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Tracking Level: Evaluating
Sponsor: Harrell, Brett 106th
Last Action: 3/24/2016 - House Second Readers
House Committee: W&M
Assigned To:
Clint MuellerNext Bill
Property TaxNext Bill

Staff Analysis of the Legislation

This bill changes the definition of FMV for ad valorem tax purposes to prohibit including intangibles such as goodwill, depreciation, income tax credits, and low interest loans when calculating FMV unless there is demonstrable evidence through comparable sales that the intangibles have enhanced FMV.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text






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