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, it changes the required percentage of the aggregate local value of sampled property from 90% to 80% of the lower limit of the margin of error. Additionally, the margin of error for determining local value validity is adjusted from five percent to ten percent, allowing for a broader range in assessments.

Furthermore, the bill clarifies the definition of "taxable value" by specifying various deductions from the market value of taxable property, including exemptions and captured appraised values. It also includes provisions for the applicability of these changes, stating that they will only affect studies conducted for tax years beginning on or after January 1, 2026. The bill will take effect immediately if it receives a two-thirds majority vote; otherwise, it will become effective on September 1, 2025.

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