SB1793 Summary

• Prohibits boards of review from considering comparable property sales subject to private restrictions or covenants when those restrictions substantially impair the comparable property's use relative to the assessed property.

• Extends the same restriction to the Property Tax Appeal Board in appeals involving non-residential property assessments.

• Applies restrictions when private covenants materially increase the likelihood of vacancy or inactivity on the comparable property.

• Takes effect immediately upon becoming law.