LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 20, 2015 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1832 by Menéndez (Relating to the contents of a notice of appraised value sent to a property owner by the chief appraiser of an appraisal district.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapter 25 of the Tax Code, regarding local property tax appraisal, to add to the items required in the notice of property tax appraised value:1) the tax rate adopted in the preceding tax year by each taxing unit taxing the property;2) the kind and amount of each partial exemption approved by each taxing unit taxing the property;3) an estimate of the tax savings for the current year resulting from each partial exemption by each taxing unit taxing the property;4) an estimate of the tax savings resulting from the application of the tax limitation for taxpayers who are age 65 or older or disabled;5) the deadlines for filing a notice of protest (these deadlines and the existing requirement to list the date and place the appraisal review board will begin hearing protests would be required to be published in bold 12-point typeface on the front of the notice);6) a statement (rather than a brief explanation) that the appraisal district only determines the value of the property; and 7) an explanation, with a specified example and specified procedure, of the method for estimating the taxes that may be imposed by each taxing unit based on the value of the property for the current year and the tax rate adopted in the preceding year by each taxing unit. The bill would strike the requirement that if the appraised value is greater than it was in the preceding year, the notice must show the amount of tax that would be imposed on the property on the basis of the tax rate for the preceding year. The bill would also strike from the notice the statement that the governing body of each taxing unit decides whether or not taxes on the property will increase.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 on January 1, 2016. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 20, 2015
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1832 by Menéndez (Relating to the contents of a notice of appraised value sent to a property owner by the chief appraiser of an appraisal district.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1832 by Menéndez (Relating to the contents of a notice of appraised value sent to a property owner by the chief appraiser of an appraisal district.), As Introduced
Honorable Jane Nelson, Chair, Senate Committee on Finance
Honorable Jane Nelson, Chair, Senate Committee on Finance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1832 by Menéndez (Relating to the contents of a notice of appraised value sent to a property owner by the chief appraiser of an appraisal district.), As Introduced
SB1832 by Menéndez (Relating to the contents of a notice of appraised value sent to a property owner by the chief appraiser of an appraisal district.), As Introduced
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 add to the items required in the notice of property tax appraised value:1) the tax rate adopted in the preceding tax year by each taxing unit taxing the property;2) the kind and amount of each partial exemption approved by each taxing unit taxing the property;3) an estimate of the tax savings for the current year resulting from each partial exemption by each taxing unit taxing the property;4) an estimate of the tax savings resulting from the application of the tax limitation for taxpayers who are age 65 or older or disabled;5) the deadlines for filing a notice of protest (these deadlines and the existing requirement to list the date and place the appraisal review board will begin hearing protests would be required to be published in bold 12-point typeface on the front of the notice);6) a statement (rather than a brief explanation) that the appraisal district only determines the value of the property; and 7) an explanation, with a specified example and specified procedure, of the method for estimating the taxes that may be imposed by each taxing unit based on the value of the property for the current year and the tax rate adopted in the preceding year by each taxing unit. The bill would strike the requirement that if the appraised value is greater than it was in the preceding year, the notice must show the amount of tax that would be imposed on the property on the basis of the tax rate for the preceding year. The bill would also strike from the notice the statement that the governing body of each taxing unit decides whether or not taxes on the property will increase.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 on January 1, 2016.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, KK, SD, SJS
UP, KK, SD, SJS