The bill amends the Government Code regarding the school district property value study conducted by the comptroller of public accounts. It defines "eligible school district" and modifies the criteria for determining local value validity. Notably, the bill changes the percentage threshold for the aggregate local value of sampled property from 90% to 80% of the margin of error determined by the comptroller. Additionally, it adjusts the margin of error for determining local value validity from five percent to ten percent, unless a larger margin is deemed necessary due to sample size constraints.

Furthermore, the bill updates the definition of "taxable value" by including specific exemptions and deductions applicable to property assessments. It clarifies that the changes in law will only apply to studies conducted for tax years beginning on or after January 1, 2026, while studies for earlier tax years will adhere to the previous law. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Government Code 403.3011, Government Code 5.102 (Government Code 5, Government Code 403)