Title: Property Transfer Tax Increase
Vote to pass a bill temporarily increasing the property transfer tax.
- Increases the property transfer tax from $3.75 to $4.25 for each $500.00 or fraction of $500.00 from April 1, 2007 to September 1, 2008 (sec. 5). - Provides 75% of the proceeds from the increase to the general fund of the local tax-collecting unit (sec.11) - Provides 25% of the proceeds from the increase to the county of the local tax-collecting unit (sec.11). - Does not take effect unless HB 4440 is passed (Enacting sec.1).
Title: Property Transfer Tax Increase
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.