HB4703 • 2025

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.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Turner
Last action: 2025-04-17
Official status: 04/17/2025 H Left pending in subcommittee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

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.

What This Bill Does

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.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-04-17 Texas Legislature Online
Scheduled for public hearing in s/c on . . .
2025-04-17 Texas Legislature Online
Considered by s/c in public hearing
2025-04-17 Texas Legislature Online
Testimony taken/registration(s) recorded in subcommittee
2025-04-17 Texas Legislature Online
Left pending in subcommittee
2025-04-03 Texas Legislature Online
Read first time
2025-04-03 Texas Legislature Online
Referred to s/c on Property Tax Appraisals by Speaker
2025-03-12 Texas Legislature Online
Filed

Official Summary Text

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.

Current Bill Text

Read the full stored bill text

89(R) HB 4703 - Introduced version - Bill Text

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.