Bill > SB1052

This bill amends the Texas Tax Code to address how certain property tax rates are calculated in coastal counties with populations under 500,000 when a property owner plans to appeal an appraisal review board's decision. The bill introduces new definitions such as "affected taxing unit," "anticipated substantial litigation," and "contested taxable value" to describe situations where high-value properties are subject to potential legal challenges. Under the new provisions, property owners with one of the top 10 most valuable properties in an affected taxing unit must notify local tax authorities by August 7 (or 21 days after their first protest hearing) about the uncontested portion of their property's taxable value and their intent to pay taxes on that amount. Tax calculations for these units can now exclude the contested portion of property values, which requires submitting supporting documentation as an addendum to tax rate calculation forms. These changes aim to provide more transparency and flexibility in tax rate calculations when significant property valuations are under dispute. The bill is set to take effect either on January 1, 2025, or January 1, 2026, depending on whether it receives the necessary two-thirds legislative vote for immediate implementation.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB1052