85R1391 CJC-F
 
  By: Buckingham S.B. No. 987
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the authority of an appraisal review board to direct
  changes in the appraisal roll and related appraisal records if a
  residence homestead is sold for less than the appraised value.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 25.25, Tax Code, is amended by adding
  Subsection (c-1) and amending Subsections (e), (l), and (m) to read
  as follows:
         (c-1)  The appraisal review board, on motion of the chief
  appraiser or of a property owner, may direct by written order
  changes in the appraisal roll or related records as provided by this
  subsection. The board may order the appraised value of the owner's
  property in the current tax year and either of the two preceding tax
  years to be changed to the sales price of the property in the
  current tax year if, for each tax year for which the change is to be
  made:
               (1)  the property qualifies as that owner's residence
  homestead;
               (2)  the sales price of the property is at least 10
  percent less than the appraised value of the property; and
               (3)  the board makes a finding that the sales price
  reflects the market value of the property.
         (e)  If the chief appraiser and the property owner do not
  agree to the correction before the 15th day after the date the
  motion is filed, a party bringing a motion under Subsection (c),
  (c-1), or (d) is entitled on request to a hearing on and a
  determination of the motion by the appraisal review board.  A party
  bringing a motion under this section must describe the error or
  errors or other matter that the motion is seeking to correct.  Not
  later than 15 days before the date of the hearing, the board shall
  deliver written notice of the date, time, and place of the hearing
  to the chief appraiser, the property owner, and the presiding
  officer of the governing body of each taxing unit in which the
  property is located.  The chief appraiser, the property owner, and
  each taxing unit are entitled to present evidence and argument at
  the hearing and to receive written notice of the board's
  determination of the motion.  A property owner who files the motion
  must comply with the payment requirements of Section 25.26 or
  forfeit the right to a final determination of the motion.
         (l)  A motion may be filed under Subsection (c) or (c-1)
  regardless of whether, for a tax year to which the motion relates,
  the owner of the property protested under Chapter 41 an action
  relating to the value of the property that is the subject of the
  motion.
         (m)  The hearing on a motion under Subsection (c), (c-1), or
  (d) shall be conducted in the manner provided by Subchapter C,
  Chapter 41.
         SECTION 2.  The changes in law made by this Act apply only to
  a motion to correct an appraisal roll filed on or after the
  effective date of this Act. A motion to correct an appraisal roll
  filed before the effective date of this Act is governed by the law
  in effect on the date the motion was filed, and the former law is
  continued in effect for that purpose.
         SECTION 3.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2017.