| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 87R2692 SMT-F | |
| 2 | 2 | By: Shine H.B. No. 534 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the reduction of the sales price of a comparable | |
| 8 | 8 | property by an amount equal to the amount of the typical commission | |
| 9 | 9 | for the sale or purchase of property for purposes of using the | |
| 10 | 10 | market data comparison method of appraisal to determine the market | |
| 11 | 11 | value of real property for ad valorem tax purposes. | |
| 12 | 12 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 13 | 13 | SECTION 1. Section 23.013, Tax Code, is amended by adding | |
| 14 | 14 | Subsection (e) to read as follows: | |
| 15 | 15 | (e) The chief appraiser shall reduce the sales price of a | |
| 16 | 16 | comparable property by an amount equal to the amount of the | |
| 17 | 17 | commission that would typically be paid for the sale or purchase of | |
| 18 | 18 | such property. | |
| 19 | 19 | SECTION 2. This Act applies only to the appraisal of | |
| 20 | 20 | property for a tax year beginning on or after the effective date of | |
| 21 | 21 | this Act. | |
| 22 | 22 | SECTION 3. This Act takes effect January 1, 2022. |