89R16217 PRL-D
By: Turner H.B. No. 4703
A BILL TO BE ENTITLED
AN ACT
relating to the application of 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 (d-1) to read as follows:
(d-1) For purposes of Subsection (d), the comptroller by
rule shall establish standards to be used by a person when making a
determination that property is comparable to another property. The
standards must require the determination to be based on:
(1) the similarity of the properties with regard to
the characteristics described by Subsection (d); and
(2) to the extent practicable, the similarity to a
property located in the same appraisal district as the subject
property.
SECTION 2. As soon as practicable after the effective date
of this Act, the comptroller of public accounts shall establish the
standards required by Section 23.013(d-1), Tax Code, as added by
this Act.
SECTION 3. This Act takes effect January 1, 2026.