H 0492 - Simplify Builder Inventory Exclusion
Tracking Level: High

Sponsor: Mark Brody
House Committee:
Senate Committee: Fin
Last Action: 7/19/2019 - Ch. SL 2019-123

Extends an existing property tax exclusion, which allows builders who own real property held for sale to exclude from property tax calculations the increase in value of the property attributable to subdivision of the land or residential construction on the land. The extension would go from three to five years. Also eliminates an annual filing requirement builders must currently make to take advantage of this exclusion. (First Edition)