SB 380 – Disclosure of Estimated Ad Valorem Taxes

• All residential property listings on public-facing online platforms (websites, web apps, mobile apps) must display estimated ad valorem taxes for the property, and the current owner's ad valorem taxes may not be displayed or used in the calculation
• Listing platforms using a tax estimator or buyer payment calculator must show estimated taxes both with and without the homestead exemption, based on the listing price and current millage rates, along with a disclaimer that millage rates may vary and that non-ad valorem assessments and certain exemptions are not included
• Platforms that do not use their own tax estimator must link to the relevant county property appraiser's tax estimator or home page; the Department of Revenue must maintain a table of these links on its website
• The Department of Revenue must annually develop and publish a formula for calculating estimated ad valorem taxes, with required data from property appraisers including county name, tax district code, school millage rate, and other millage rates, beginning December 15, 2024
• Printed listing materials produced by real estate sales agents may comply simply by not displaying the seller's ad valorem taxes; the act takes effect July 1, 2024