78R1355 RCJ-D
By: Solomons H.B. No. 703
A BILL TO BE ENTITLED
AN ACT
relating to the property tax appraisal of property located in more
than one appraisal district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 6.025, Tax Code, is amended by adding
Subsection (d) to read as follows:
(d) If on May 1 all the chief appraisers of the appraisal
districts described by Subsection (a) 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 that date each of the chief
appraisers shall enter as the appraised or market value of the
property on the appraisal records of the appropriate appraisal
district the lowest appraised or market value of the property as
determined by any of the chief appraisers. If as a result of a
protest, appeal, or other action the appraised or market value of
the property is subsequently reduced in any of the appraisal
districts, the chief appraiser shall notify each of the appraisal
districts of the reduced appraised or market value. The chief
appraiser of each appraisal district shall enter that reduced
appraised or market value on the appraisal records as the appraised
or market value of the property. If the appraised or market value
is reduced in more than one appraisal district, each chief
appraiser shall enter the lowest of those values on the appraisal
records.
SECTION 2. This Act takes effect January 1, 2004, and
applies only to the appraisal for ad valorem tax purposes of
property for a tax year that begins on or after that date.