Honorable Morgan Meyer, Chair, House Committee on Ways & Means
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB2786 by Turner (relating to the frequency with which certain appraisal districts are required to reappraise property for ad valorem tax purposes.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would require the board of directors of an appraisal district in a county with a population of 75,000 or more to develop biennially a written plan for the annual reappraisal of all property within the boundaries of the district.
The bill would require an appraisal office in a county with a population of 75,000 or more to implement the reappraisal plan for the annual reappraisal of property and require the chief appraiser to use the most recent information obtained through reappraisal activities when performing the reappraisal
Local Government Impact
No significant fiscal implication to units of local government is anticipated.