Honorable Morgan Meyer, Chair, House Committee on Ways & Means
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB361 by Bernal (Relating to the appraisal of a residence homestead for ad valorem tax purposes.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would require a chief appraiser to only consider the value of other properties with a residence homestead exemption located in the same neighborhood as the subject property when determining the market value of a residence homestead.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.