Bill > HB4043

This bill modifies the Texas Tax Code regarding how frequently appraisal districts can reappraise property for ad valorem (property) tax purposes. Specifically, the bill maintains the existing requirement that appraisal districts conduct a comprehensive reappraisal of all real and personal property once every three years, which involves a detailed process of identifying properties, updating property characteristics, defining market areas, developing appraisal models, and reviewing appraisal results. The key change is the addition of a new provision that allows an appraisal office to reappraise a property in the year immediately following a change in ownership. The bill requires appraisal offices to update their reappraisal plans to conform to this new law by December 31, 2025, and will take effect either 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. This change provides appraisal districts with more flexibility to reassess property values when ownership changes, potentially helping to ensure more accurate and up-to-date property valuations for tax purposes.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB4043