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