Bill > HB360

This bill modifies the Texas Tax Code to provide homeowners with a new mechanism for challenging their property's appraised value when they sell their primary residence for significantly less than its current appraisal. Specifically, the bill allows an appraisal review board to adjust the appraised value of a residential homestead to its actual sales price if three conditions are met: the property is the owner's primary residence, the sales price is at least 10% lower than the appraised value, and the board determines that the sales price accurately reflects the property's market value. The bill applies to the current tax year and up to two preceding tax years, and allows either the chief appraiser or the property owner to initiate this adjustment process. The legislation also updates procedural details related to hearings and motions, ensuring that property owners have a clear path to challenge what they believe are inflated property valuations. The bill will take effect immediately if it receives a two-thirds vote in the Texas legislature, or on September 1, 2025, if it does not receive the immediate vote threshold. The changes only apply to motions filed on or after the bill's effective date.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB360