House Bill No. 4399 amends the Texas Tax Code to enhance the authority of appraisal review boards regarding changes to the appraisal roll when a residence homestead is sold for less than its appraised value. The bill introduces a new subsection (c-2), allowing the appraisal review board, upon motion from either the chief appraiser or the property owner, to direct changes in the appraisal roll or related records. Specifically, the board can adjust the appraised value of a property to its sales price for the current tax year and the two preceding years if the property qualifies as a residence homestead, the sales price is at least 10% lower than the appraised value, and the board finds that the sales price reflects the market value.

Additionally, the bill modifies existing subsections (e), (l), and (m) to clarify the process for filing motions and conducting hearings related to appraisal roll corrections. It ensures that property owners can file motions regardless of whether they previously protested the property's value and outlines the timeline for scheduling hearings. The changes in law will apply only to motions filed after the effective date of the Act, with provisions for motions filed before that date to be governed by the previous law. The Act will take effect immediately if it receives a two-thirds vote from both houses or on September 1, 2025, if it does not.

Statutes affected:
Introduced: Tax Code 25.25 (Tax Code 25)