HB 1265 Summary

• Amends ad valorem taxation law regarding valuation of property destroyed by natural events, requiring the county assessor and board of equalization to reassess property damaged by fire, lightning, storm, winds, floodwaters, or overflow of streams.

• Changes terminology in tax code by replacing "protests" with "appeals" throughout ad valorem taxation procedures for county boards of equalization and related hearings.

• Modifies the basis and timing for board of tax roll corrections to consider damage assessments, allowing the board to consider reassessments presented by the county assessor following property destruction from natural disasters.

• Updates dates for clerical error corrections related to school district designations, changing the reference date from January 1 to October 1 of the taxable year for certain property ownership verifications.

• Becomes effective November 1, 2013.