| 1 | 1 | | 88R14444 SHH-D |
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| 2 | 2 | | By: Rogers H.B. No. 3906 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the authority of the chief appraiser of an appraisal |
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| 8 | 8 | | district to consider a sale of real property to be a comparable sale |
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| 9 | 9 | | when using the market data comparison method of appraisal to |
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| 10 | 10 | | determine the market value of real property for ad valorem tax |
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| 11 | 11 | | purposes. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Sections 23.013(b) and (b-1), Tax Code, are |
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| 14 | 14 | | amended to read as follows: |
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| 15 | 15 | | (b) A sale is not considered to be a comparable sale unless |
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| 16 | 16 | | the sale occurred: |
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| 17 | 17 | | (1) not earlier than [within] 24 months before [of] |
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| 18 | 18 | | the date [as of which] the market value of the subject property is |
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| 19 | 19 | | to be determined, except that a sale that occurred earlier [did not |
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| 20 | 20 | | occur during that period] may be considered to be a comparable sale |
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| 21 | 21 | | if enough comparable properties were not sold during the 24-month |
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| 22 | 22 | | [that] period to constitute a representative sample; and |
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| 23 | 23 | | (2) not later than January 1 of the tax year for which |
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| 24 | 24 | | the market value of the subject property is to be determined. |
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| 25 | 25 | | (b-1) Notwithstanding Subsection (b)(1) [(b)], for a |
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| 26 | 26 | | residential property in a county with a population of more than |
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| 27 | 27 | | 150,000, a sale is not considered to be a comparable sale unless the |
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| 28 | 28 | | sale occurred within 36 months of the date as of which the market |
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| 29 | 29 | | value of the subject property is to be determined, regardless of the |
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| 30 | 30 | | number of comparable properties sold during that period. |
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| 31 | 31 | | SECTION 2. This Act applies only to the appraisal for ad |
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| 32 | 32 | | valorem tax purposes of real property for a tax year that begins on |
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| 33 | 33 | | or after the effective date of this Act. |
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| 34 | 34 | | SECTION 3. This Act takes effect January 1, 2024. |
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