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 outlines the criteria for determining local value validity, including changes to the percentage thresholds for local value and the margin of error used in assessments. Specifically, the bill lowers the required local value from 90 percent to 80 percent of the margin of error and adjusts the margin of error from five percent to ten percent for determining the validity of local values.

Additionally, the bill updates the definition of "taxable value" by including specific exemptions and deductions applicable to school districts. It clarifies the treatment of various property types and exemptions, ensuring that the taxable value reflects the market value of taxable property after accounting for these deductions. The changes will apply to studies conducted for tax years beginning on or after January 1, 2026, while studies for earlier tax years will follow 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 that threshold is not met.

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