Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
755.0000 STATE-ASSESSED PROPERTY
755.0126 Transfer to Local Roll. The sale by grant deed of a multiple parcel property by a state assessee to a locally-assessed taxpayer, subject to an option agreement whereby the state assessee may repurchase one parcel, does not result in retention of beneficial ownership in the optioned parcel by the seller. Thus, the entire property conveyed by the grand deed becomes locally assessed. C 3/24/2000.