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A BILL TO BE ENTITLED
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AN ACT
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relating to the application of the market data comparison method of |
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appraisal to determine the market value of real 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 23.013, Tax Code, is amended by adding |
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Subsection (d-1) to read as follows: |
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(d-1) For purposes of Subsection (d), the comptroller by |
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rule shall establish standards to be used by a person when making a |
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determination that property is comparable to another property. The |
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standards must require the determination to be based on: |
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(1) the similarity of the properties with regard to |
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the characteristics described by Subsection (d); and |
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(2) to the extent practicable, the similarity to a |
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property located in the same appraisal district as the subject |
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property. |
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SECTION 2. As soon as practicable after the effective date |
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of this Act, the comptroller of public accounts shall establish the |
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standards required by Section 23.013(d-1), Tax Code, as added by |
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this Act. |
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SECTION 3. This Act takes effect January 1, 2026. |