Bill Text: TX SB1256 | 2013-2014 | 83rd Legislature | Comm Sub

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Bill Title: Relating to the requirements for a sale to be considered a comparable sale for ad valorem tax purposes.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Passed) 2013-06-14 - Effective on 1/1/14 [SB1256 Detail]

Download: Texas-2013-SB1256-Comm_Sub.html

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By: Patrick S.B. No. 1256
(In the Senate - Filed March 6, 2013; March 13, 2013, read
first time and referred to Committee on Finance; April 9, 2013,
reported adversely, with favorable Committee Substitute by the
following vote: Yeas 14, Nays 0; April 9, 2013, sent to printer.)
COMMITTEE SUBSTITUTE FOR S.B. No. 1256 By: Hegar

A BILL TO BE ENTITLED
AN ACT
relating to the requirements for a sale to be considered a
comparable sale 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 (b-1) to read as follows:
(b-1) Notwithstanding Subsection (b), for a residential
property in a county with a population of more than 150,000, a sale
is not considered to be a comparable sale unless the sale occurred
within 36 months of the date as of which the market value of the
subject property is to be determined, regardless of the number of
comparable properties sold during that period.
SECTION 2. This Act applies only to the appraisal of
property for a tax year beginning on or after the effective date of
this Act.
SECTION 3. This Act takes effect January 1, 2014.
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