| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R16217 PRL-D | |
| 2 | 2 | By: Turner H.B. No. 4703 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the application of the market data comparison method of | |
| 10 | 10 | appraisal to determine the market value of real property for ad | |
| 11 | 11 | 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 (d-1) to read as follows: | |
| 15 | 15 | (d-1) For purposes of Subsection (d), the comptroller by | |
| 16 | 16 | rule shall establish standards to be used by a person when making a | |
| 17 | 17 | determination that property is comparable to another property. The | |
| 18 | 18 | standards must require the determination to be based on: | |
| 19 | 19 | (1) the similarity of the properties with regard to | |
| 20 | 20 | the characteristics described by Subsection (d); and | |
| 21 | 21 | (2) to the extent practicable, the similarity to a | |
| 22 | 22 | property located in the same appraisal district as the subject | |
| 23 | 23 | property. | |
| 24 | 24 | SECTION 2. As soon as practicable after the effective date | |
| 25 | 25 | of this Act, the comptroller of public accounts shall establish the | |
| 26 | 26 | standards required by Section 23.013(d-1), Tax Code, as added by | |
| 27 | 27 | this Act. | |
| 28 | 28 | SECTION 3. This Act takes effect January 1, 2026. |