LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 21, 2009 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB4256 by Hilderbran (Relating to voluntary sales price disclosure in real property sales.), As Introduced No fiscal implication to the State is anticipated. The bill would amend the Property Code to require that if a voluntary disclosure of the sales price of property is recorded in the county clerk's office, the sales price must be used as the January 1st market value for the property. The bill would take effect September 1, 2009. Local Government Impact The fiscal impact to a county would depend on the number of voluntary disclosures that are filed and how those values compare to values otherwise determined for the property. The result could be either a higher appraised value or a lower appraised value. Source Agencies: LBB Staff: JOB, MN, DB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 21, 2009
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB4256 by Hilderbran (Relating to voluntary sales price disclosure in real property sales.), As Introduced
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB4256 by Hilderbran (Relating to voluntary sales price disclosure in real property sales.), As Introduced
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB4256 by Hilderbran (Relating to voluntary sales price disclosure in real property sales.), As Introduced
HB4256 by Hilderbran (Relating to voluntary sales price disclosure in real property sales.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Property Code to require that if a voluntary disclosure of the sales price of property is recorded in the county clerk's office, the sales price must be used as the January 1st market value for the property. The bill would take effect September 1, 2009.
Local Government Impact
The fiscal impact to a county would depend on the number of voluntary disclosures that are filed and how those values compare to values otherwise determined for the property. The result could be either a higher appraised value or a lower appraised value.
Source Agencies:
LBB Staff: JOB, MN, DB
JOB, MN, DB