Bill Caption

Relating to the appraisal for ad valorem tax purposes of residential real property located in a designated historic district.

Fiscal Notes

No significant fiscal implication to the State is anticipated.

Bill Analysis

HB 3971 would require that in "determining the market value of residential real property located in a designated historic district, the chief appraiser shall consider the effect on the property’s value of any restriction placed by the historic district on the property owner’s ability to alter, improve, or repair the property."

Vote Recommendation Notes

Restrictions placed upon an owner's property by the government should be considered when determining the valuation of a property for tax purposes because the actual market value and allowable uses of the property may be diminished by virtue of the restrictions associated with the historic designation. 

Texas Actions supports HB 3971 which aligns with our limited government and property rights principles.