reappraisal capped at once every three years

The text as introduced · 375 words

89R14240 MLH-D

By: Schatzline
H.B. No. 4043

A BILL TO BE ENTITLED

AN ACT

relating to a limitation on the frequency with which an appraisal

district may reappraise property for ad valorem tax purposes.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 25.18, Tax Code, is amended by amending

Subsection (b) and adding Subsection (b-1) to read as follows:

(b) The plan shall provide for the following reappraisal

activities for all real and personal property in the district [ at

least ] once every three years:

(1) identifying properties to be appraised through

physical inspection or by other reliable means of identification,

including deeds or other legal documentation, aerial photographs,

land-based photographs, surveys, maps, and property sketches;

(2) identifying and updating relevant characteristics

of each property in the appraisal records;

(3) defining market areas in the district;

(4) identifying property characteristics that affect

property value in each market area, including:

(A) the location and market area of property;

(B) physical attributes of property, such as

size, age, and condition;

(C) legal and economic attributes; and

(D) easements, covenants, leases, reservations,

contracts, declarations, special assessments, ordinances, or legal

restrictions;

(5) developing an appraisal model that reflects the

relationship among the property characteristics affecting value in

each market area and determines the contribution of individual

property characteristics;

(6) applying the conclusions reflected in the model to

the characteristics of the properties being appraised; and

(7) reviewing the appraisal results to determine

value.

(b-1) Notwithstanding Subsection (b), an appraisal office

may reappraise property in the year immediately following a year in

which the ownership of the property changes.

SECTION 2. As soon as practicable after the effective date

of this Act but not later than December 31, 2025, each appraisal

office that has implemented a plan for periodic reappraisals of

property in the appraisal district shall amend that plan if

necessary to conform to the change in law made by this Act.

SECTION 3. This Act takes effect immediately if it receives

a vote of two-thirds of all the members elected to each house, as

provided by Section 39, Article III, Texas Constitution. If this

Act does not receive the vote necessary for immediate effect, this

Act takes effect September 1, 2025.