Relating to the waiver under certain circumstances of the late-correction penalty if an appraisal roll is changed as a result of the filing of a motion with the appraisal review board to correct an error that resulted in an incorrect appraised value for an owner's property.
Impact
If enacted, this bill would amend Section 25.25 of the Tax Code, specifically targeting the issue of late-correction penalties. It proposes that no penalty shall apply under specific conditions, such as when the property was under construction on January 1 or when the appraisal was inaccurate due to the chief appraiser's miscalculation. This change is anticipated to ease the financial stress on property owners who are addressing errors and to facilitate clearer resolution processes in appraisal disputes. The bill applies to late-correction penalties related to motions filed on or after its effective date of September 1, 2023.
Summary
House Bill 4263 seeks to provide a waiver for the late-correction penalty imposed on property owners when an appraisal roll is amended due to an error. Specifically, the bill states that if a property owner files a motion with the appraisal review board to correct an error that has resulted in an incorrect appraised value, they will not be subject to this penalty under certain conditions. This amendment in the law aims to alleviate financial burdens on property owners whose properties are under construction or have been incorrectly appraised.
Sentiment
The sentiment surrounding HB 4263 appears to be supportive among property owners and advocates who view the potential removal of the late-correction penalty as a positive step towards fairness in property taxation. By allowing waivers in specific circumstances, the bill aims to protect property owners from undue financial hardship arising from administrative errors. However, there may be concerns regarding how frequently and under what conditions these waivers are granted, as they could affect overall revenue collected by local taxing units.
Contention
Some notable points of contention may arise regarding the criteria established in the bill for waiving the late-correction penalty. Lawmakers may debate the balance between protecting property owners and ensuring that local governments can adequately fund essential services through property taxes. Additionally, there could be discussions regarding how the bill may impact the consistency and uniformity of appraisal practices across different jurisdictions, as varying interpretations of construction and appraisal criteria may lead to disparities in financial liabilities among property owners.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.