By: Dean H.B. No. 1489
A BILL TO BE ENTITLED
AN ACT
relating to computation of tax based on the standard presumptive
value of a motor vehicle.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 152.0412, Tax Code, is amended to read as
follows:
(b) If the amount paid for a motor vehicle subject to the tax
imposed by this chapter is equal to or greater than [80] 50 percent
of the standard presumptive value of the vehicle, a county tax
assessor-collector shall computer the tax on the amount paid.
(c) If the amount paid for a motor vehicle subject to the tax
imposed by this chapter is less than [80] 50 percent of the standard
presumptive value of the vehicle, a county tax assessor-collector
shall computer the tax on the amount that is equal to [80] 50
percent of the standard presumptive value of the vehicle, unless
the purchaser establishes the valuation of the vehicle as provide
by Subsection (d).
SECTION 2. This Act takes effect September 1, 2021.