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Rep. Barrett: HB 1368 would remove business tax inequity affecting appraisers
Summary
Representative Barrett said HB 1368 would eliminate a business tax applied only to appraisers in real-estate transactions; the committee placed the bill behind the budget after noting its small fiscal impact.
Representative Barrett told the committee that House Bill 1368 addresses an inconsistency that requires appraisers — and only appraisers — to pay a business tax tied to real estate transactions.
"This bill just deals with an inequity with how the, business tax is being applied and collected across the state as it relates only to appraisers," Barrett said. He noted that other participants in real-estate transactions — agents, brokers, banks, lawyers and title companies — are not subject to the tax and that the bill seeks to eliminate that disparity.
Barrett described the item as having a small fiscal impact and said he looked forward to further discussions; the committee, without objection, placed HB 1368 behind the budget so it can be addressed in fiscal negotiations.
