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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, Tax Code, is amended by amending |
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Subsection (b) and adding Subsection (c) to read as 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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(c) Notwithstanding any provision of this subchapter to the |
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contrary, if the appraised value of property in a tax year is |
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determined under Subtitle F, the appraised value of the property as |
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finally determined under that subtitle is considered to be the |
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appraised value of the property for that tax year. In the following |
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tax year, the chief appraiser may not increase the appraised value |
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of the property by a percentage that exceeds the average percentage |
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increase in the final appraised value of the property for the |
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preceding five years unless the increase by the chief appraiser is |
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reasonably supported by substantial evidence when all of the |
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reliable and probative evidence in the record is considered as a |
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whole. |
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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 six 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. 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, and the |
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existence of easements, deed restrictions, or other legal burdens |
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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. |