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A BILL TO BE ENTITLED
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AN ACT
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relating to the reduction of the sales price of a comparable |
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property by an amount equal to the amount of the typical commission |
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for the sale or purchase of property for purposes of using the |
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market data comparison method of appraisal to determine the market |
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value of real property for ad 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 23.013, Tax Code, is amended by adding |
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Subsection (e) to read as follows: |
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(e) The chief appraiser shall reduce the sales price of a |
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comparable property by an amount equal to the amount of the |
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commission that would typically be paid for the sale or purchase of |
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such property. |
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SECTION 2. 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 3. This Act takes effect January 1, 2022. |