Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
HB4256 by Hilderbran (Relating to voluntary sales price disclosure in real property sales.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Property Code to require that if a voluntary disclosure of the sales price of property is recorded in the county clerk's office, the sales price must be used as the January 1st market value for the property. The bill would take effect September 1, 2009.
Local Government Impact
The fiscal impact to a county would depend on the number of voluntary disclosures that are filed and how those values compare to values otherwise determined for the property. The result could be either a higher appraised value or a lower appraised value.