|Hurricane Harvey Questions
1. How do damages from Hurricane Harvey affect my property value?
Answer: The Texas Property Tax Code sets the assessment date as of January 1 each year. In the Tax Code, there is a provision for reappraisal of all property damaged in a disaster if the area is declared a disaster by the Governor, under Tax Code Section 23.02: (b) If a taxing unit authorizes a reappraisal pursuant to this section, the appraisal office shall complete the reappraisal as soon as practicable. The appraisal office shall include on the appraisal records, in addition to other information required or authorized by law:
2. How are values determined for the reappraisal?
Answer: For reappraised property, the taxes are prorated for the year the disaster occurred. The local taxing unit assesses taxes prior to the date of the disaster based on the market value as of January 1. Beginning on the date of the disaster and for the remainder of the year, the taxing unit applies its tax rate to the reappraised market value of the property.
3. When will the reappraisal be complete?
Answer: Entities must authorize the appraisal district to do a disaster reappraisal before beginning.
When requested by a local taxing unit, an appraisal district is required to complete a reappraisal as soon as practicable of all property damaged in a disaster if the area is declared a disaster area by the Governor. The appraisal record must include
- The date of the disaster;
- The appraised value of the property after the disaster; and
- An indication of the taxing units to which the reappraisal applies if the reappraisal was not authorized by all taxing units in which the property is located.