By: Lucio S.B. No. 756
A BILL TO BE ENTITLED
AN ACT
1-1 relating to equalizing valuations for governmental taxing and
1-2 taking; and declaring an emergency.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (b), Section 23.01, Property Tax Code,
1-5 is amended to read as follows:
1-6 (b) The market value of property shall be determined by the
1-7 application of generally accepted appraisal techniques, and the
1-8 same or similar appraisal techniques shall be used in appraising
1-9 the same or similar kinds of property. However, each property
1-10 shall be appraised based upon the individual characteristics that
1-11 affect the property's market value being the price a willing buyer
1-12 would pay a willing seller after considering all factors in the
1-13 marketplace that influence the price of the property, including but
1-14 not limited to the property's location, its visibility, access to
1-15 and from the property, and its highest and best use. A property
1-16 owner whose land is taken or condemned under Sec. 21, et seq, Texas
1-17 Property Code, shall be entitled to receive the market value of
1-18 property taken, or the diminution in the market value of property
1-19 damaged, through consideration and evaluation of the same
1-20 characteristics, including the effect of the construction and
1-21 operation of the entire project for which, in part, the
1-22 condemnation was instituted, by the use of the same accepted
1-23 appraisal techniques.
2-1 SECTION 2. This Act takes effect September 1, 1995.
2-2 SECTION 3. EMERGENCY CLAUSE. The importance of this
2-3 legislation and the crowded condition of the calendars in both
2-4 houses create an emergency and an imperative public necessity that
2-5 the constitutional rule requiring bills to be read on three several
2-6 days in each house be suspended, and this rule is hereby suspended.