Relating to the reappraisal for ad valorem taxation purposes of real property on which a building completely destroyed by a casualty is located.
Impact
If passed, HB 3608 would amend the Texas Tax Code by adding specific provisions governing how property reappraisals should be conducted when a home is destroyed by a casualty. This includes establishing a procedure for the chief appraiser to follow and creating guidelines for determining property value post-casualty, ensuring that homeowners may not be penalized for circumstances beyond their control. The bill aims to streamline the process and make it more responsive to the needs of affected homeowners, highlighting an important aspect of taxation fairness.
Summary
House Bill 3608, introduced by Hefner, addresses the reappraisal process for ad valorem taxation of real property that has been completely destroyed by a casualty, such as a fire or natural disaster. Under this bill, property owners can request a reappraisal from the chief appraiser within 180 days after the destruction of their homestead. The intent of this legislation is to provide a mechanism for homeowners affected by casualty events to adjust their property taxes accordingly, reducing their financial burden during recovery.
Sentiment
The sentiment surrounding HB 3608 appears to be generally positive among legislators and advocacy groups that support homeowner protection. Many see it as a necessary reform to aid those who find themselves in vulnerable situations due to unforeseen property damage. However, there may be some concerns raised by individuals who worry about the potential financial impact on local taxing authorities, as reappraisal could affect their revenue streams if not managed carefully.
Contention
While there is broad support for the protective measures offered by HB 3608, discussions might surface about the details of the implementation, specifically the assessment of 'complete destruction' and the timeline for reappraisal. Opponents may argue that establishing too lenient criteria for reappraisal could result in loss of revenue for the local government jurisdictions. Therefore, a balance needs to be struck between providing necessary tax relief for homeowners and maintaining fiscal responsibility for local governments.
Identical
Relating to the reappraisal for ad valorem taxation purposes of real property on which a building completely destroyed by a casualty is located.
Relating to a temporary exemption from ad valorem taxation of the appraised value of an improvement to a residence homestead that is completely destroyed by a fire.
Relating to the payment in installments of ad valorem taxes on certain property owned by a business entity and located in a disaster area and to the ad valorem taxation of a residence homestead rendered uninhabitable or unusable by a casualty or by wind or water damage.
Relating to a temporary exemption from ad valorem taxation of the appraised value of an improvement to a residence homestead that is completely destroyed by a fire.