Laws supporting equity in property taxation should include provisions for what purpose?

The focus on "Disclosure of Sales Prices" as a provision supporting equity in property taxation is rooted in the idea that transparency in real estate transactions allows for a fair assessment process. When sales prices are disclosed, assessors can use this data to better inform property valuations, ensuring that properties are assessed at their market value. This knowledge helps to mitigate disparities that can arise when sales data is not widely available, as varied access can lead to unequal assessments and a lack of equity among taxpayers.

Moreover, the disclosure of sales prices can also promote public trust in the assessment process, as taxpayers can see the basis for tax assessments directly linked to actual market transactions. This can lead to a more equitable tax system overall, where properties of similar value are treated fairly in terms of assessment and taxation.

In contrast, the other options address different aspects of property taxation and assessment but do not directly relate to ensuring equity through transparency of transaction data. For example, while assessment rate transparency and market value limitations are important concepts, they do not directly ensure that assessments are based on actual sales, which ultimately affects equity in taxation. Tax rate adjustments are structural tools that can influence the overall tax burden but do not inherently rectify discrepancies in property valuation based on market activity.