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Top 10 legislative changes in Texas property tax lawThough relatively few changes were made in the Texas Tax Code during the recent legislative session, this does not mean that property owners and tax consultants will not be affected by the revisions and new provisions. Many of the legislative changes are minor or administrative. However, GPD has reviewed the legislation and determined the revisions that are likely to have the greatest impact. RECENT CASELAWWoodside Assurance, Inc. v. N.K. Resources, Inc. A purchaser of property immediately prior to a delinquent tax foreclosure may recover excess proceeds from the tax sale. The court rejected a prior lienholder's claims to the proceeds. The lienholder alleged manipulation of the tax foreclosure provisions because the pre-foreclosure purchaser and the purchaser at foreclosure were related. The court held that the Tax Code does not prohibit such manipulations. PROPERTY TAX TIPSummary of proposed legislation available The Texas Legislature is currently meeting in a second special session called by the governor on school financing and property tax relief. Legislation proposing changes in the Property Tax Code (as well as other selected tax issues) is summarized on the GPD Property Tax website. GPD will attempt to keep readers informed of the status of those bills during the current special session. Read the summary of proposed legislation. Upcoming deadlinesAugust 8 August 31 September 1 |
