HB 4703
AN ACT relating to the application of the market data comparison method of
House Bill
89th Regular Session
Jan 14, 2025 - Jun 2, 2025 • Session ended
Awaiting Committee Assignment
Bill filed, pending referral to House committee
Committee
Not yet assigned
Fiscal Note
Not available
What This Bill Does
relating to the application of the market data comparison method of
Subject Areas
Bill Text
relating to the application of the market data comparison method of appraisal to determine the market value of real property for ad 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 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 SECTION 3. This Act takes effect January 1, 2026.
Bill History
filed
Bill filed: AN ACT relating to the application of the market data comparison method of
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