Kansas SB332 excludes buyer's premiums from the sale price of property purchased at auction for property tax valuation.
Kansas SB332 amends the real estate sales validation questionnaire to exclude buyer's premiums from the sale price of property purchased at auction for property tax valuation purposes. This change ensures that premiums paid to auctioneers or auction companies are not included in the total sale price for tax assessment. The bill amends K.S.A. 79-1437d and repeals the existing section to implement this change.
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