HB 492

86(R) - 2019
House Ways & Means
Senate Property Tax
House Ways & Means
Senate Property Tax

Vote Recommendation

  • Neutral
  • Positive
  • Neutral
  • Positive
  • Neutral


Hugh Shine
Drew Darby
Jim Murphy
John Raney
Phil Stephenson


Dwayne Bohac


Larry Taylor

Bill Caption

Relating to a temporary exemption from ad valorem taxation of a portion of the appraised value of certain property damaged by a disaster.

Fiscal Notes

Passage of the bill would create a mandatory percentage disaster exemption for property damaged by a disaster. Contingent on adoption of a constitutional amendment, taxable property values could be reduced and the related costs to the Foundation School Fund could be increased through the operation of the school finance formulas.

Bill Analysis

HB 492 would create a property tax exemption for qualified property that is damaged in a disaster. The bill would establish a rating system by which appraisers would establish how damaged a property is on a Level 1 to Level IV scale. The amount of exemption a property owner would be entitled to would be set on a sliding scale pegged to the level of damage done to their property. In order to be eligible for the exemption, the property would need to reside in an area declared a disaster area by the Governor.

Vote Recommendation Notes

While we generally do not support targeted tax exemptions, we support HB 492 because it would ensure that tax on a disaster damaged property would be based on the value of the property while it is in its damaged condition rather than the value prior to the damage. This supports limited government and property rights. We support HB 492.