Committee hears bill to let homeowners seek rebates when sale price is under 97% of county appraisal

Senate Assessment and Taxation Committee members heard testimony on Senate Bill 319 on Jan. 29, a proposal that would allow owners of qualifying property who sell in a qualifying sale for less than 97% of the county appraised value to apply for a rebate of excess property tax paid.

Amelia, the committee analyst, described the rebate mechanics: an owner who sold in a qualifying sale could apply to the county appraiser for a rebate equal to the excess tax levied compared with what would have been levied if the sale price had been the appraised value; rebates are limited to the year of the sale and the four preceding tax years and would be prorated for the year of sale if taxes were prorated. Applications could be appealed to the State Board of Tax Appeals, and rebates would be paid by county treasurers to applicants or,…