Loading chat...
TX HB360
Bill
Status
11/12/2024
Primary Sponsor
Cody Vasut
Click for details
AI Summary
-
Authorizes appraisal review boards to change the appraised value of a residence homestead to the actual sales price for the current tax year and up to two preceding tax years upon motion by the chief appraiser or property owner
-
Requires three conditions for the appraisal change: the property must qualify as the owner's residence homestead, the sales price must be at least 10 percent less than the appraised value, and the board must find the sales price reflects market value
-
Allows property owners to file a motion for correction regardless of whether they previously protested the property's value under existing protest procedures
-
Entitles parties to a hearing before the appraisal review board if the chief appraiser and property owner do not agree on the correction within 15 days of filing the motion
-
Takes effect immediately with a two-thirds legislative vote, otherwise September 1, 2025, and applies only to motions filed on or after the effective date
Legislative Description
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Property Interests
Last Action
Reported from s/c favorably w/o amendment(s)
4/3/2025