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House Finance considers codifying 'fixture' and 'affixed' tests for REET
Summary
Senate Bill 6114 would place statutory definitions for 'fixture' and 'affixed' into the real-estate excise-tax statute to make determinations easier for taxpayers and county reviewers; Department of Revenue testified in support and said the bill codifies an observable test rather than changing outcomes.
Senate Bill 6114, heard Feb. 26 by the House Finance Committee, would add statutory definitions for 'fixture' and 'affixed' for state excise-tax (REET) purposes and replace the common-law three-prong fixture test with statutory criteria focused on documentation, intended function, and the difficulty…
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