Bill Title: Assessment of common areas for tax purposes. Provides that a common area may not be subjected to a property tax liability in excess of one dollar for any assessment date. Defines "common area" as a parcel of land in a residential development that: (1) is legally reserved for the exclusive use and enjoyment of all lot owners; (2) is owned by the developer, or each lot owner, or a person or entity that holds title to the land for the benefit of the lot owners; and (3) cannot be transferred for value to another party without the approval of the

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-01-14 - First Reading: referred to Committee on Ways and Means [HB1440 Detail]

Text: Latest bill text (Introduced) [PDF]

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