Requires online real estate listing platforms to display estimated ad valorem taxes for properties.
The bill mandates that online real estate listing platforms, including websites and mobile apps, must display estimated ad valorem taxes for residential properties. It prohibits the use of the current owner's ad valorem taxes for calculating these estimates and restricts the display of the current owner's taxes in historical tax information. The Department of Revenue must annually publish a formula and countywide aggregate average millage rate for calculating these taxes.
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