Texas HB4399 allows appraisal review boards to adjust appraisal rolls for residence homesteads sold for less than appraised value.

HB4399 amends the Texas Tax Code to give appraisal review boards authority to change appraisal rolls and records if a residence homestead is sold for less than its appraised value. The board can order the appraised value changed to the sales price if the property is a residence homestead, the sales price is at least 10% less than the appraised value, and the board finds the sales price reflects market value. The changes apply to motions filed on or after the bill's effective date.

Texas HB4399 allows appraisal review boards to adjust appraisal rolls for residence homesteads sold for less than appraised value.

HB4399 amends the Texas Tax Code to give appraisal review boards authority to change appraisal rolls and records if a residence homestead is sold for less than its appraised value. The board can order the appraised value changed to the sales price if the property is a residence homestead, the sales price is at least 10% less than the appraised value, and the board finds the sales price reflects market value. The changes apply to motions filed on or after the bill's effective date.