Texas SB467 allows property owners to request a reappraisal of their residence homestead after a complete destruction by a casualty.

Texas SB467 amends the Tax Code to allow property owners to request a reappraisal of their residence homestead if it is completely destroyed by a casualty. The owner must submit a written request to the chief appraiser within 180 days of the casualty. The chief appraiser must reappraise the property unless it qualifies for an exemption. The comptroller, in consultation with appraisal districts, will develop guidelines for the reappraisal process. The amount of taxes due is calculated based on the reappraised value and the timing of the casualty.

Texas SB467 allows property owners to request a reappraisal of their residence homestead after a complete destruction by a casualty.

Texas SB467 amends the Tax Code to allow property owners to request a reappraisal of their residence homestead if it is completely destroyed by a casualty. The owner must submit a written request to the chief appraiser within 180 days of the casualty. The chief appraiser must reappraise the property unless it qualifies for an exemption. The comptroller, in consultation with appraisal districts, will develop guidelines for the reappraisal process. The amount of taxes due is calculated based on the reappraised value and the timing of the casualty.