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A BILL TO BE ENTITLED
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AN ACT
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relating to the determination of the value of property for ad |
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valorem tax purposes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 23.01(b), Tax Code, is amended to read as |
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follows: |
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(b) The market value of property shall be determined by the |
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application of generally accepted appraisal methods and |
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techniques. If the appraisal district determines the appraised |
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value of a property using mass appraisal standards, the mass |
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appraisal standards must comply with the Uniform Standards of |
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Professional Appraisal Practice. The same or similar appraisal |
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methods and techniques shall be used in appraising the same or |
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similar kinds of property. However, each property shall be |
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appraised based upon the individual characteristics that affect the |
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property's market value, and all available evidence that is |
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specific to the value of the property shall be taken into account in |
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determining the property's market value. |
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SECTION 2. Section 23.013, Tax Code, is amended to read as |
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follows: |
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Sec. 23.013. MARKET DATA COMPARISON METHOD OF APPRAISAL. |
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(a) If the chief appraiser uses the market data comparison method of |
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appraisal to determine the market value of real property, the chief |
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appraiser shall use comparable sales data and shall adjust the |
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comparable sales to the subject property. |
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(b) A sale of real property is not considered to be a |
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comparable sale unless the sale occurred within 24 months of the |
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date as of which the market value of the subject property is to be |
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determined and is appropriately adjusted for changes in the market |
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value over the time period between the dates of the sale and the |
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appraisal. Whether a property is comparable to the subject |
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property shall be determined based on similarities with regard to |
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location, square footage of the lot and improvements, property age, |
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property condition, property access, amenities, views, income, |
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operating expenses, occupancy, and the existence of easements, deed |
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restrictions, or other legal burdens affecting marketability. |
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SECTION 3. This Act applies only to the appraisal of |
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property for a tax year beginning on or after the effective date of |
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this Act. |
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SECTION 4. This Act takes effect January 1, 2010. |
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COMMITTEE AMENDMENT NO. |
1 |
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Amend H.B. No. 3454 by adding the following SECTIONS to the |
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bill, appropriately numbered, and renumbering existing SECTIONS |
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accordingly: |
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SECTION ____. Section 23.24, Tax Code, is amended to read as |
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follows: |
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Sec. 23.24. FURNITURE, FIXTURES, AND EQUIPMENT. (a) If |
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real property is appraised by a method that takes into account the |
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value of furniture, fixtures, and equipment in or on the real |
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property, the furniture, fixtures, and equipment shall not be |
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subject to additional appraisal or taxation as personal property. |
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(b) In determining the market value of the real property, |
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the chief appraiser may not separately appraise or take into |
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account any personal property valued as a portion of the income of |
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the real property, and the market value of the real property must |
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include the combined value of the real property and the personal |
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property. |
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SECTION ____. Section 23.014, Tax Code, is repealed. |
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81R19679 JD-FHilderbran |