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H.B. No. 1038

H.B. No. 1038

AN ACT

relating to the determination of the market value of a residence
homestead for purposes of ad valorem taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 23.01, Tax Code, is amended by adding
Subsection (c) to read as follows:
(c) Notwithstanding Section 1.04(7)(C), in determining the
market value of a residence homestead, the chief appraiser may not
exclude from consideration the value of other residential property
that is in the same neighborhood as the residence homestead being
appraised and would otherwise be considered in appraising the
residence homestead because the other residential property:
(1) was sold at a foreclosure sale conducted in any of
the three years preceding the tax year in which the residence
homestead is being appraised and was comparable at the time of sale
based on relevant characteristics with other residence homesteads
in the same neighborhood; or
(2) has a market value that has declined because of a
declining economy.
SECTION 2. This Act takes effect January 1, 2010.

______________________________ ______________________________
President of the Senate Speaker of the House

I certify that H.B. No. 1038 was passed by the House on March
31, 2009, by the following vote: Yeas 144, Nays 0, 1 present, not
voting.

______________________________
Chief Clerk of the House

I certify that H.B. No. 1038 was passed by the Senate on May
26, 2009, by the following vote: Yeas 31, Nays 0.

______________________________
Secretary of the Senate
APPROVED: _____________________
Date

_____________________
Governor

Property Tax Protection Program™ Benefits

  • No flat fees or upfront costs.  No cost ever unless your property taxes are reduced.
  • All practical efforts are made every year to reduce your property taxes.
  • Never miss another appeal deadline.
  • Property taxes protested for you annually.
  • You do not have to accept the appraisal district’s initial guesstimate of value.
  • We coordinate with you regarding building size / condition to avoid excess taxes.
  • Free support regarding homestead exemptions.
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  • The other 3 to 4 years out of 10 we strike out. Most often due to people issues in the hearing process. Some years we get an easy appraiser at the informal; some years someone who is impossible to settle with.
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