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AR HB1905
Bill
Status
5/5/2025
Primary Sponsor
Robin Lundstrum
Click for details
AI Summary
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Real estate licensees representing sellers are prohibited from disclosing the current taxable value of residential property in property listings
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Property listings must direct potential buyers to contact the county assessor's office to obtain the current assessed value
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Licensees must provide written disclosure to buyers that Arkansas Constitution Amendment 79 limits increases in assessed property values for current owners
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Buyers must be informed in writing that these assessment limitation protections do not transfer to new property owners at the time of sale
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Amends Arkansas Code § 17-10-101 concerning responsibilities of real estate licensees and appraisers
Legislative Description
To Create The Buyer Beware Act; And To Require A Real Estate Licensee Representing A Seller To Direct The Seller To The Office Of The County Assessor For The Current Assessed Value Of A Residential Real Estate Property.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025