Texas Tax Code
§ 23.01 — APPRAISALS GENERALLY
TX § 23.01Title 1. PROPERTY TAX CODE · Part D. APPRAISAL AND ASSESSMENT · Ch. 23. APPRAISAL METHODS AND PROCEDURES · Art. A. APPRAISALS GENERALLY
Statute text
View on source(a)Except as otherwise provided by this chapter, all taxable property is appraised at its market value as of January 1.
(b)The market value of property shall be determined by the application of generally accepted appraisal methods and techniques. If the appraisal district determines the appraised value of a property using mass appraisal standards, the mass appraisal standards must comply with the Uniform Standards of Professional Appraisal Practice. The same or similar appraisal methods and techniques shall be used in appraising the same or similar kinds of property. However, each property shall be appraised based upon the individual characteristics that affect the property's market value, and all available evidence that is specific to the value of the property shall be taken into account in determining the property's market value.
(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.
(d)The market value of a residence homestead shall be determined solely on the basis of the property's value as a residence homestead, regardless of whether the residential use of the property by the owner is considered to be the highest and best use of the property.
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 619 (H.B. 1038), Sec. 1, eff. January 1, 2010. Acts 2009, 81st Leg., R.S., Ch. 1211 (S.B. 771), Sec. 1, eff. January 1, 2010. Acts 2009, 81st Leg., R.S., Ch. 1405 (H.B. 3613), Sec. 2, eff. January 1, 2010. Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 27.001(56), eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 27.001(57), eff. September 1, 2011. Acts 2015, 84th Leg., R.S., Ch. 101 (H.B. 2083), Sec. 1, eff. January 1, 2016. Acts 2019, 86th Leg., R.S., Ch. 944 (S.B. 2), Sec. 28, eff. January 1, 2020. Acts 2019, 86th Leg., R.S., Ch. 1284 (H.B. 1313), Sec. 2, eff. January 1, 2020.