Texas HB360 amends the Tax Code to allow appraisal review boards to adjust appraisal rolls if a residence homestead sells for less than its appraised.

Texas HB360 amends the Tax Code to expand the authority of appraisal review boards. The bill allows these boards to direct changes in the appraisal roll and related records if a residence homestead is sold for less than its appraised value. Specifically, the board can adjust the appraised value to the sales price if the property qualifies as a residence homestead, the sales price is at least 10 percent less than the appraised value, and the board finds that the sales price reflects the market value.

Texas HB360 amends the Tax Code to allow appraisal review boards to adjust appraisal rolls if a residence homestead sells for less than its appraised.

Texas HB360 amends the Tax Code to expand the authority of appraisal review boards. The bill allows these boards to direct changes in the appraisal roll and related records if a residence homestead is sold for less than its appraised value. Specifically, the board can adjust the appraised value to the sales price if the property qualifies as a residence homestead, the sales price is at least 10 percent less than the appraised value, and the board finds that the sales price reflects the market value.