SPONSOR: Brown
Currently, real property is divided into three separate classifications based on the use or purpose of the property. Each of the subclassifications of property are assessed at different rates. When real property is used for different purposes resulting in different classifications, the county assessor must allocate to each classification the percentage of the true value in money of the property devoted to each use.
This bill provides that when a single family home that is owned by a sole proprietor, individual, partnership, or limited liability company (LLC) is leased, in whole or in part, for 30 consecutive days or less, the home will be classified as residential property and will not necessarily be considered "transient housing".
This bill is similar to SCS HB 1086 (2025) and SCS HB 1086 (2025).
Statutes affected: