LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 6, 2015 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB281 by Watson (Relating to the information required to be included in an affidavit submitted by a property owner who elects to offer evidence or argument by affidavit in an appraisal review board hearing on certain protests.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Chapter 41 of the Tax Code, regarding local review of property tax appraisals, to require a property owner who submits an affidavit containing evidence or argument in a protest hearing to state in the affidavit the owner's opinion of the property's appraised or market value that is subject of the protest, and attach evidence that supports that opinion.The bill's requirement for property owners who protest their property values by submitting an affidavit to an appraisal review board, rather than appearing in person, to include their opinion of the property value along with supporting evidence would make no significant difference in the amount of value reductions granted by appraisal review boards. Consequently, the bill would create no significant gain or loss in property tax revenue to local taxing units, or to the state through the operation of the school funding formulas. The bill takes effect September 1, 2015. 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 6, 2015
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB281 by Watson (Relating to the information required to be included in an affidavit submitted by a property owner who elects to offer evidence or argument by affidavit in an appraisal review board hearing on certain protests.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB281 by Watson (Relating to the information required to be included in an affidavit submitted by a property owner who elects to offer evidence or argument by affidavit in an appraisal review board hearing on certain protests.), 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
SB281 by Watson (Relating to the information required to be included in an affidavit submitted by a property owner who elects to offer evidence or argument by affidavit in an appraisal review board hearing on certain protests.), As Introduced
SB281 by Watson (Relating to the information required to be included in an affidavit submitted by a property owner who elects to offer evidence or argument by affidavit in an appraisal review board hearing on certain protests.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 41 of the Tax Code, regarding local review of property tax appraisals, to require a property owner who submits an affidavit containing evidence or argument in a protest hearing to state in the affidavit the owner's opinion of the property's appraised or market value that is subject of the protest, and attach evidence that supports that opinion.The bill's requirement for property owners who protest their property values by submitting an affidavit to an appraisal review board, rather than appearing in person, to include their opinion of the property value along with supporting evidence would make no significant difference in the amount of value reductions granted by appraisal review boards. Consequently, the bill would create no significant gain or loss in property tax revenue to local taxing units, or to the state through the operation of the school funding formulas. The bill takes effect September 1, 2015.
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