Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.

HB 360 allows Texas property owners who sell their primary residence (homestead) for at least 10% less than the appraised value to request a tax adjustment. If the sale price reflects current market value, the appraisal review board can change the property tax records for the current year and the two prior years. This applies when the property qualifies as a homestead and the owner files a motion with the board. The bill also establishes procedures for hearings if the chief appraiser and owner disagree on the adjustment before the 15th day after filing.