88R14444 SHH-D
By: Rogers H.B. No. 3906
A BILL TO BE ENTITLED
AN ACT
relating to the authority of the chief appraiser of an appraisal
district to consider a sale of real property to be a comparable sale
when 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. Sections 23.013(b) and (b-1), Tax Code, are
amended to read as follows:
(b) A sale is not considered to be a comparable sale unless
the sale occurred:
(1) not earlier than [within] 24 months before [of]
the date [as of which] the market value of the subject property is
to be determined, except that a sale that occurred earlier [did not
occur during that period] may be considered to be a comparable sale
if enough comparable properties were not sold during the 24-month
[that] period to constitute a representative sample; and
(2) not later than January 1 of the tax year for which
the market value of the subject property is to be determined.
(b-1) Notwithstanding Subsection (b)(1) [(b)], for a
residential property in a county with a population of more than
150,000, a sale is not considered to be a comparable sale unless the
sale occurred within 36 months of the date as of which the market
value of the subject property is to be determined, regardless of the
number of comparable properties sold during that period.
SECTION 2. This Act applies only to the appraisal for ad
valorem tax purposes of real property for a tax year that begins on
or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2024.