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Committee approves bill allowing tax rebates when sale price is less than 97% of county appraisal
Summary
The committee passed SB 319, which would allow owners of qualifying property to apply for a rebate when the sale price is less than 97% of the county appraised value. Senators debated fraud safeguards and whether to require a licensed appraisal; a motion to require an applicant-supplied appraisal failed, and the committee reported the bill favorably.
Amelia described SB 319 as a rebate program allowing owners of qualifying residential, commercial or industrial property sold for less than 97% of the county appraised value to apply for a rebate equal to the excess property taxes levied on that property; applicants could seek refunds for up to four preceding years.
Senator Francisco asked how SB 319 would interact with SB 332’s…
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