By Eiland H.B. No. 3478
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the income method of appraisal for property purposes.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 23.012, Tax Code, is amended to read as
1-5 follows:
1-6 If the chief appraiser uses the income method of appraisal to
1-7 determine the market value of real property, the chief appraiser
1-8 shall:
1-9 (1) use [rental] income and expense data pertaining to
1-10 the property if possible and applicable;
1-11 (2) make any projections of future [rental] income and
1-12 expenses only from clear and appropriate evidence;
1-13 SECTION 2. This Act takes effect immediately if it receives
1-14 a vote of two-thirds of all the members elected to each house, as
1-15 provided by Section 39, Article III, Texas Constitution. If this
1-16 Act does not receive the vote necessary for immediate effect, this
1-17 Act takes effect September 1, 2001.