| TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | HB818 by Phillips (Relating to an exemption from the requirement to render certain property for ad valorem taxation if the information contained in the most recently filed rendition statement continues to be accurate.), As Introduced |
The bill would allow a waiver of personal property rendition requirements if the information contained in the most recent rendition statement in a prior tax year was accurate with respect to the current tax year.
Section 403.302 of the Government Code requires the Comptroller to conduct a property value study to determine the total taxable value for each school district. Total taxable value is an element in the state's school funding formula. Passage of this bill could cause a change in school district taxable values reported to the Commissioner of Education by the Comptroller.
Assuming that appraisal districts continued to include taxable property that was reflected in a prior rendition statement on local appraisal rolls, and that fraud provisions in Section 22.29 of the Tax Code were enforced, there would be no significant impact to the State.
Assuming that appraisal districts continued to include taxable property that was reflected in a prior rendition statement on local appraisal rolls, and that fraud provisions in Section 22.29 of the Tax Code were enforced, there would be no significant impact to units of local government.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, SD, WP, DLBe
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