Local News
New rules go into effect for appraisals
By Chad Blackshear
Herald-Banner Staff
County appraisal districts across the state will be required to comply with new regulations that are aimed to benefit property taxpayers that take effect on Jan. 1.
House Bill 8 and 4612 by Rep John Otto and Senate Bill 771 by Sen. Tommy Williams are expected to improve the appraisal process and help property taxpayers, according to a release from the office of Gov. Rick Perry.
The new changes include provisions that impose limits on what is considered a comparable sale for appraisal purposes and address the arbitration process and changes the way appraisal districts are reviewed.
According to Hunt County Appraisal District Chief Appraiser Brent South, the changes will benefit both the appraisal process and taxpayers.
“They have restricted the time frame we can use for comparable sales,” said South. “Foreclosed properties must also be taken into consideration when setting property values. The state will also start its review of appraisal districts every other year.”
South added that homestead property must be classified as that even if it is in a commercial area. “Prior to the new rules, we had to classify it according to the property’s best possible use,” said South.
Changes to arbitration and the appeals process are also expected to benefit property tax payers.
“The arbitration rules have also been adjusted, and the $500 deposit for arbitration has been reduced to $200,” said South. “Values adjusted through the appeals process cannot be raised the following year unless there is substantial evidence. We would never arbitrarily raise property values anyway. It would only happen if their is substantial evidence.”
According to South, the new changes will add fairness and consistency to the appraisal process.
“I think the changes will help property owners and promote more uniform appraisals across the state,” said South.
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