Bill Filing: Reforming Commercial Appraisals

Senator Ellis has filed SB 1084 to address what some view as a loop hole in the appraisal system that allows for challenges to an apprised value if it is appraised unequally.  The Senator says the reduced commercial appraisals  that make use of the current law are overburdening appraisal districts.

SB 1084 will :

• require that comparable values be from within the same appraisal district.
• law suit can only commence for properties valued above $1 million that can show a minimum of 10% discrepancy in appraised value

The LBB has recommended taking up this issue.

The Building Owners and Management Association told the Houston Business Journal the following will happen if SB 1084 passes:

• business leases will increase

Houston Business Journal