TO: | Honorable Fred Hill, Chair, House Committee on Local Government Ways & Means |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB1899 by England (Relating to the sale of real property at an ad valorem tax sale and the right of redemption in connection with real property sold at a tax sale.), As Introduced |
The bill would amend Sections 33.57 and 34.21 of the Tax Code to allow the aggregation of multiple tracts to be sold at a foreclosure sale when there are five or more years (currently 10 years) of delinquent taxes on a group of similarly situated parcels.
The bill would allow aggregation after a court allowed the aggregated tracts to be sold in solido (together) to facilitate transfer.
Because the state is constitutionally prohibited from imposing a state property tax, there would be no direct fiscal impact on the state.
This bill would take effect September 1, 2007.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, CT, SD, SJS
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