Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2015

Property Tax Annotations

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Annotation 755.0126

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.