LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION May 3, 2015 TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1420 by Hancock (Relating to notices of appraised value sent to property owners by the chief appraisers of appraisal districts.), As Engrossed No fiscal implication to the State is anticipated. The bill would amend Chapter 25 of the Tax Code, regarding local property tax appraisal, to require a chief appraiser to send a notice of appraised value to a property owner if an exemption or partial exemption approved for the property for the preceding year was canceled or reduced for the current year. The notice of appraised value would be revised to include the kind and amount of each exemption (rather than just partial exemption) approved for the property in the current and preceding year, and, if an exemption or partial exemption that was approved for the preceding year was canceled or reduced for the current year, the amount of the exemption or partial exemption canceled or reduced.The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state. The bill would take effect January 1, 2016, but a notice of appraised value for a tax year beginning before the effective date would be governed by the law in effect immediately before the effective date of the bill. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, CL, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
May 3, 2015
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1420 by Hancock (Relating to notices of appraised value sent to property owners by the chief appraisers of appraisal districts.), As Engrossed
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1420 by Hancock (Relating to notices of appraised value sent to property owners by the chief appraisers of appraisal districts.), As Engrossed
Honorable René Oliveira, Chair, House Committee on Business & Industry
Honorable René Oliveira, Chair, House Committee on Business & Industry
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1420 by Hancock (Relating to notices of appraised value sent to property owners by the chief appraisers of appraisal districts.), As Engrossed
SB1420 by Hancock (Relating to notices of appraised value sent to property owners by the chief appraisers of appraisal districts.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 25 of the Tax Code, regarding local property tax appraisal, to require a chief appraiser to send a notice of appraised value to a property owner if an exemption or partial exemption approved for the property for the preceding year was canceled or reduced for the current year. The notice of appraised value would be revised to include the kind and amount of each exemption (rather than just partial exemption) approved for the property in the current and preceding year, and, if an exemption or partial exemption that was approved for the preceding year was canceled or reduced for the current year, the amount of the exemption or partial exemption canceled or reduced.The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state. The bill would take effect January 1, 2016, but a notice of appraised value for a tax year beginning before the effective date would be governed by the law in effect immediately before the effective date of the bill.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, CL, KK, SD, SJS
UP, CL, KK, SD, SJS