Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
220.0000 CHANGE IN OWNERSHIP
220.0871 Void Contract. A void contract, agreement etc. is without legal significance from the outset, whereas, a voidable contract, agreement etc. is effective until rescinded or voided. A transfer of property which is voidable results in a change of ownership, a reappraisal and taxes based on the new value. If the transfer is rescinded or voided, no refund of taxes would be due. The opposite is true when a transfer is void from the outset. In that case, the base year value at the time of the execution of the agreement should be reinstated, factored to its current assessable value and enrolled. The taxes paid on the value of the property based on the void transfer should be refunded. C 9/25/1989; C 1/21/2009.