Texas House Bill HB768

Texas 2019 - 86th Regular

Caption

Relating to the reappraisal for ad valorem tax purposes of property damaged in a disaster.

Impact

The implementation of HB 768 could significantly impact how property taxes are assessed in areas affected by disasters. By mandating quicker reappraisal processes, the law aims to alleviate the financial burden on property owners who may be struggling to recover after an event. This changes the landscape of property tax assessments and could potentially lead to more equitable tax responsibilities for those whose properties have lost value due to disasters. Local governments are required to share the costs of reappraisals, which may influence their budgeting and response strategies in the aftermath of disasters.

Summary

House Bill 768 addresses the reappraisal process for ad valorem tax purposes for properties that have been damaged in disaster areas. This bill amends Section 23.02 of the Texas Tax Code, requiring the chief appraiser of an appraisal district to reappraise all properties that have sustained significant damage (five percent or more) as estimated by FEMA. The bill is designed to streamline the reappraisal process, mandating completion of these reappraisals within 45 days of a disaster declaration by the governor. Property owners have the option to refuse reappraisal, which provides them with a degree of control over their properties post-disaster.

Contention

While the bill aims to provide prompt financial relief to property owners, there may be concerns regarding the practical implementation of such fast-tracked reappraisals. Critics may argue that the accuracy of immediate appraisals could be compromised due to time constraints and pressure on appraisal offices, especially if they are also dealing with a high volume of claims post-disaster. The stipulation that some property owners may choose to decline reappraisal raises questions about the potential inconsistency in tax assessments within a community, which could lead to disputes or perceptions of unfairness among residents.