Bill Caption

Relating to the correction of an ad valorem tax appraisal roll and related appraisal records.

Fiscal Notes

Passage of the bill would allow property owners to request corrections to appraisal rolls tangible personal property in the current year and two previous years in certain instances. As a result, 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

SB 1421 would allow for the correction of business personal property tax appraisal rolls and related records for the current tax year and for either of the two preceding tax years to correct inaccuracies of the appraised value of the owner's business personal property that is the result of an error.

Records would not be allowed to be changed if the property owner failed to timely file a rendition statement, the property was subject to a protest or a previous motion in certain instances, or the apprised value of the property was established as a result of a written agreement between the property owner and the appraisal district. 

Vote Recommendation Notes

Texas Action supports SB 1421 which uplifts our limited government, individual liberty, and property rights principles.