Texas Attorney General Opinion: GA-0943 Page: 1 of 4
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ATTORNEY GENERAL OF TEXAS
GREG ABBOTT
May 30, 201 2
The Honorable Kevin P. Eltife Opinion No. GA-0943
Chair, Committee on Administration
Texas State Senate Re: Whether, in determining the market value of
Post Office Box 12068 a residence homestead, a chief appraiser is required
Austin, Texas 78711-2068 to consider the value of previously sold foreclosed
residential property (RQ-1029-GA)
Dear Senator Eltife:
You ask whether chief . appraisers, in determining the market value of a residence homestead
for ad valoren tax purposes, are "required to take into consideration the value of other residential
property that was sold at a foreclosure sale conducted in any of the three years preceding the tax year
in which the residence homestead is being appraised and meets the other requirements of Section
23.01(c)(1). "
Article VIII, section 1(b) of the Texas Constitution provides that "[a]ll real property and
tangible property in this State.,. shall be taxed in proportion to its value, which shall be ascertained
as provided by law," TEx. CONST. art, VIII, 1(b). Generally, the Legislature requires an appraisal
district to appraise all taxable property in the district "at its market value as of January 1 " TEX. TAX
CODE ANN. 23.0 1(a) (West Supp. 2011). "Market value" is defined as
the price at which a property would transfer for cash or its
equivalent under prevailing market conditions if:
(A) exposed for sale in the open market with a reasonable
time for the seller to find a purchaser;
(B) both the seller and the purchaser know of all the uses
and purposes to which the property is adapted and Bfor which it is
capable of being used and of the enforceable restrictions on its use;
and
See Letter from Honorable Kevin P. Etife, Chair, Senate Comm. on Admin., to Honorable Greg Abbott, TexAtt'y Gen. at I (Dec. 1 3, 2011), http:/www.texasattorneygeneral.gov/opin ("Request Letter").
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Texas. Attorney-General's Office. Texas Attorney General Opinion: GA-0943, text, May 30, 2012; (https://texashistory.unt.edu/ark:/67531/metapth275839/m1/1/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.