| TO: | Honorable Teel Bivins, Chair, Senate Committee on Finance |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | SB291 by West (Relating to remedies for unequal appraisal of property by an appraisal district.), As Introduced |
The bill would amend Section 42.26 of the Tax Code to require a district court in a lawsuit based on an unequal appraisal to grant relief to a taxpayer if the appraised value of the property exceeded the median market value of a reasonable number of comparable properties similarly situated to, or of the same general kind or character as, the property subject to the appeal.
Under current law, the appraised value of the property has to exceed the median appraised value of a reasonable number of comparable properties appropriately adjusted.
Passage of the bill would require taxpayers to provide a district court with evidence of the "market" value of a group of properties comparable to the property subject to the lawsuit. Obtaining market value information could require a greater allocation of taxpayer resources than the current appraised value requirement, however, it is not anticipated that this would result in any significant impact on taxing units. Any additional expenses would be experienced by the taxpayer.
| Source Agencies: | 304 Comptroller Of Public Accounts
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| LBB Staff: | JK, SD, WP, BR
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