Texas Tax Code 22.03 – Report of Decreased Value
(a) A person who believes the appraised value of his property decreased during the preceding tax year for any reason other than normal depreciation may file an information report describing the property involved and stating the nature and cause of the decrease.
(b) Except as provided by Subsection (d) of this section, before determining the appraised value of property that is the subject of a completed and timely filed report as provided by Subsection (a) of this section, the chief appraiser must view the property to verify any reported change in appraised value and its cause and nature. The person who views the property shall note on the back of the property owner’s report his name, the date he viewed the property, and his determination of any decrease in appraised value and its cause and nature.
Terms Used In Texas Tax Code 22.03
- Appraisal: A determination of property value.
- Appraised value: means the value determined as provided by Chapter 23 of this code. See Texas Tax Code 1.04
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Tax year: means the calendar year. See Texas Tax Code 1.04
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) The chief appraiser shall deliver a written notice to the property owner of the determination made as provided by Subsection (b) of this section.
(d) Before determining the appraised value of oil and gas property that is the subject of a completed and timely filed report as provided by Subsection (a) of this section, the chief appraiser must review the appraisal of the property to verify any reported change in appraised value and its cause and nature. The person who reviews the appraisal of the property shall note on the back of the property owner’s report his name, the date he reviewed the appraisal of the property, and his determination of any decrease in appraised value and its cause and nature.