By: Patrick, et al. S.B. No. 1256
(Bohac)
A BILL TO BE ENTITLED
AN ACT
relating to the requirements for a sale to be considered a
comparable sale for ad valorem tax purposes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 23.013, Tax Code, is amended by adding
Subsection (b-1) to read as follows:
(b-1) Notwithstanding Subsection (b), for a residential
property in a county with a population of more than 150,000, a sale
is not considered to be a comparable sale unless the sale occurred
within 36 months of the date as of which the market value of the
subject property is to be determined, regardless of the number of
comparable properties sold during that period.
SECTION 2. This Act applies only to the appraisal of
property for a tax year beginning on or after the effective date of
this Act.
SECTION 3. This Act takes effect January 1, 2014.