H.B. No. 4399 amends the Texas Tax Code to enhance the authority of appraisal review boards regarding changes to the appraisal roll and related records 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 to direct changes in the appraisal roll if the property qualifies as a residence homestead, the sales price is at least 10 percent less than the appraised value, and the board finds that the sales price reflects the market value of the property. Additionally, it modifies existing subsections (e), (l), and (m) to incorporate the new provisions and clarify the process for filing motions and conducting hearings related to appraisal corrections.

The bill stipulates that if the chief appraiser and property owner do not reach an agreement within 15 days of filing a motion, a hearing must be scheduled by the appraisal review board. It also allows property owners to file motions regardless of whether they previously protested the property's value. The changes will apply only to motions filed after the effective date of the Act, with prior motions governed by the law in effect at the time of filing. The Act will 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: Tax Code 25.25 (Tax Code 25)