| TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB2436 by Howard, Charlie (Relating to the duty of certain persons who conduct a closing to provide information to the purchaser or other transferee of a single-family residential structure regarding the exemption from ad valorem taxation applicable to a residence homestead.), As Introduced |
The bill would require settlement agents to inform purchasers of single-family residences of the procedures to apply for homestead exemptions.
The bill would take effect September 1, 2007.
No significant fiscal implication to units of local government is anticipated.
In some instances, the law might produce a property tax revenue loss to local government from homeowners claiming homestead exemptions that otherwise they would never have claimed.
| Source Agencies: |
| LBB Staff: | JOB, CT
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