Enrolled Bill Summary

House Bill 703 amends the Tax Code to require that if all chief appraisers of the appraisal districts in which a parcel or item of property is located are not in agreement as to the appraised or market value of the property on May 1, the lowest value as determined by any of the chief appraisers must be entered as the appraised or market value of the property in all of the appraisal districts. If the value is subsequently lowered in one or more districts as a result of a protest, appeal, or other action, the lowest value must be entered as the property's value in all of the districts.