Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2989 by Bonnen, Dennis (Relating to payment of an ad valorem tax refund in the event of a tax roll correction that decreases a property owner's tax liability.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend Chapter 26 of the Tax Code, regarding property tax assessment, to provide that if a tax roll correction that decreases the tax liability of a property owner is made after the owner has paid the tax, the taxing unit shall refund to the property owner who paid the tax (rather than just to the property owner) the difference between the tax paid and the tax legally due, except as otherwise provided.
The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state.
The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2017.
Local Government Impact
No fiscal implication to units of local government is anticipated.