| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to a study of the impact, feasibility, and advisability of |
|
|
adopting a property tax system in which the disclosure of the sales |
|
|
price of real property is required by law. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. (a) The comptroller shall conduct a study of the |
|
|
impact, feasibility, and advisability of adopting a property tax |
|
|
system in which the disclosure of the sales price of real property |
|
|
is required by law. |
|
|
(b) The comptroller shall establish an advisory committee |
|
|
to assist the comptroller in conducting the study. The advisory |
|
|
committee must be composed of: |
|
|
(1) the following representatives appointed by the |
|
|
comptroller: |
|
|
(A) one representative of a school district that |
|
|
is required to reduce its local revenue level under Section 48.257, |
|
|
Education Code; |
|
|
(B) one representative of a school district that |
|
|
receives state aid under Chapter 48, Education Code; |
|
|
(C) one member of a county commissioners court; |
|
|
(D) one member of the governing body of a |
|
|
municipality; |
|
|
(E) one member of the governing body of a |
|
|
political subdivision other than a school district, county, or |
|
|
municipality; |
|
|
(F) one or more representatives of appraisal |
|
|
districts; |
|
|
(G) one or more representatives of the profession |
|
|
of real estate agents; |
|
|
(H) one or more representatives of property tax |
|
|
payers; |
|
|
(I) one or more representatives of organizations |
|
|
interested in the effect of public policy on low-income and |
|
|
moderate-income households; and |
|
|
(J) one or more representatives of other |
|
|
appropriate interested organizations or members of the public, as |
|
|
determined by the comptroller; |
|
|
(2) one member of the house of representatives |
|
|
appointed by the speaker of the house of representatives; and |
|
|
(3) one member of the senate appointed by the |
|
|
lieutenant governor. |
|
|
(c) The comptroller, with the assistance of the advisory |
|
|
committee, shall study: |
|
|
(1) the impact on the property tax system, property |
|
|
tax revenue of school districts and other taxing units, the |
|
|
allocation of property tax burdens among taxpayers, and the cost to |
|
|
the state to fund public education: |
|
|
(A) under the current system in which the |
|
|
disclosure of the sales price of real property is not required by |
|
|
law; and |
|
|
(B) under a system in which the disclosure of the |
|
|
sales price of real property would be required by law; |
|
|
(2) the statutory and administrative changes that |
|
|
would be necessary to effectively collect, disseminate, and use |
|
|
sales price information; |
|
|
(3) the annual cost to purchase real property sales |
|
|
price information from a private entity, such as a multiple listing |
|
|
service, compared to the annual cost to obtain that information |
|
|
under a system in which the disclosure of the sales price of real |
|
|
property would be required by law; and |
|
|
(4) the annual cost to appraisal districts of all |
|
|
property tax protests and appeals filed under Chapters 41, 41A, and |
|
|
42, Tax Code, and Subchapter Z, Chapter 2003, Government Code. |
|
|
(d) In studying the allocation of property tax burdens among |
|
|
taxpayers, the comptroller and the advisory committee must compare |
|
|
the tax burden among property owners of each classification of real |
|
|
property, including a comparison of the burden on owners of: |
|
|
(1) commercial properties as compared to |
|
|
single-family residential properties; |
|
|
(2) industrial properties as compared to |
|
|
single-family residential properties; and |
|
|
(3) single-family residential properties for which |
|
|
the sales price of the property is provided by a private entity, |
|
|
such as a multiple listing service, to a chief appraiser for use by |
|
|
the chief appraiser in determining the appraised value of the |
|
|
property as compared to single-family residential properties for |
|
|
which the sales price is not provided. |
|
|
(e) The comptroller and the advisory committee shall |
|
|
prepare a report that: |
|
|
(1) makes findings and recommendations regarding the |
|
|
issues studied under Subsection (c) of this section; |
|
|
(2) forecasts the fiscal impact to state revenue for |
|
|
the following three state fiscal bienniums under a system in which |
|
|
the disclosure of the sales price of real property would be required |
|
|
by law as compared to a system in which the sales price of real |
|
|
property is not required by law; and |
|
|
(3) lists each type of taxing unit that would be |
|
|
impacted under a system in which the disclosure of the sales price |
|
|
of real property would be required by law. |
|
|
(f) The comptroller may contract with appraisal districts, |
|
|
taxing units, or other appropriate entities for assistance and to |
|
|
obtain information necessary to conduct the study. A state agency, |
|
|
appraisal district, or taxing unit shall assist the comptroller if |
|
|
the comptroller requests information or assistance in conducting |
|
|
the study. |
|
|
(g) Not later than December 1, 2022, the comptroller shall |
|
|
submit to the governor, lieutenant governor, and speaker of the |
|
|
house of representatives the report prepared under Subsection (e) |
|
|
of this section. |
|
|
SECTION 2. This Act expires September 1, 2023. |
|
|
SECTION 3. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2021. |