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TX HB1940
Bill
Status
1/17/2025
Primary Sponsor
Jay Dean
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AI Summary
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Amends Section 23.01(a) of the Tax Code to clarify that taxable property is appraised at its market value as of January 1 "of the tax year in which the property is appraised"
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Provides legal clarification supporting appraisal districts' authority to implement reappraisal plans on a less-than-annual basis
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The language change specifies the appraisal date applies to the year property is actually appraised, rather than implying annual appraisal is required
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Takes effect September 1, 2025
Legislative Description
Relating to the clarification of the authority of an appraisal office to approve and implement a plan providing for the reappraisal of property in the appraisal district less frequently than annually.
Taxation
Last Action
Referred to s/c on Property Tax Appraisals by Speaker
3/14/2025