Texas Senate Bill SB453

Texas 2019 - 86th Regular

Caption

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

Impact

The implementation of SB453 holds significant implications for property tax assessments in Texas, particularly in regions frequently affected by natural disasters. By mandating swift reassessments, the bill aims to alleviate the tax burden on property owners whose properties have diminished in value due to disaster damage. The provision for prorating taxes in the year of the disaster also serves to lessen the financial impact on affected taxpayers, promoting fairness in the tax system during times of crisis.

Summary

Senate Bill 453 addresses the reappraisal for ad valorem tax purposes of property that has been damaged in a declared disaster area. The bill mandates that the chief appraiser of a local appraisal district must reappraise all affected property at its market value immediately after the disaster, thereby providing a clear process for adjusting property values based on damage. Furthermore, it allows property owners the option to refuse the reappraisal. The bill ensures that this process occurs within a specific timeline, requiring completion no later than 45 days following the governor's disaster declaration.

Contention

While the bill is designed to provide tax relief for property owners affected by disasters, there may be contention surrounding the financial responsibilities assigned to local taxing units. Each taxing unit affected by the reappraisal is required to incur the costs associated with conducting these assessments, which may lead to disputes over budget allocations and financial management within local governments. Moreover, considerations around how property owners can refuse reappraisal might spark debates regarding taxpayer rights and the implications of such decisions on local tax revenues.