SB2101 Summary

• Requires grantees presenting deeds to county recorders to certify full consideration paid, file reports with the state board of equalization or recorder, or designate applicable exemptions; recorders cannot record deeds without these statements.

• Establishes that property assessment increases cannot be made until the property owner receives written notice at least 15 days before the local equalization board meeting; lowers the notice threshold from $3,000 to $1,500 in increased valuation.

• Allows property owners to present professional appraisals to equalization boards showing assessed value is more than 5% (township) or 5% or more (county) below true value; boards may accept the appraisal, negotiate a middle value, or require a state-conducted appraisal at owner's expense.

• Protects confidentiality of consideration statements and reports by prohibiting disclosure of grantor/grantee names and requiring public reports to exclude identifying information.

• Effective for taxable years beginning after December 31, 2013.