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TX HB779
Bill
Status
11/12/2024
Primary Sponsor
Cody Vasut
Click for details
AI Summary
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Increases the margin of error the Comptroller of Public Accounts may use when validating local property values for school districts from 5 percent to 15 percent in the annual property value study
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Maintains the provision allowing the Comptroller to use a larger margin of error if the property sample size makes the standard margin not feasible
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When local value is determined valid, it represents taxable value for the school district; when invalid, the state value is used unless local value exceeds state value
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Applies only to property value studies for tax years beginning on or after January 1, 2026
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Takes effect immediately with a two-thirds vote of both chambers, otherwise takes effect September 1, 2025
Legislative Description
Relating to the margin of error to be used by the comptroller of public accounts in connection with the property value study to determine whether the local value for a school district is valid.
Taxation
Last Action
Referred to Ways & Means
3/5/2025