RE 2007-0213.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 2007-0213.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS TO SUPPORT
LEGISLATION IN THE TEXAS LEGISLATURE REQUIRING MANDATORY
DISCLOSURE OF REAL PROPERTY SALES PRICES TO APPRAISAL
DISTRICTS TO ENSURE THE FAIR AND EQUITABLE VALUATION AND
TAXATION OF ALL REAL PROPERTY IN THE STATE OF TEXAS AND
PROVIDING AND EFFECTIVE DATE.
WHEREAS
, with the passage of the Property Tax Code by the Texas Legislature in
1979, all property is to be valued at fair market value; and
WHEREAS
, the Property Tax Code requires the application of generally accepted
appraisal methods and techniques; and
WHEREAS
, appraisal districts in Texas must apply the techniques in compliance with
the Uniform Standards of Professional Appraisal Practice; and
WHEREAS
, the Uniform Standards of Professional Appraisal Practice and the Property
Tax Code require the use of three methods of appraisal; the cost approach, the income
approach, and the market data approach; and
WHEREAS
, these three approaches to value require the use of real property sales data;
and
WHEREAS
, this data is mostly unavailable to appraisal districts in Texas; and
WHEREAS
, the unavailability of sales data causes the inequitable undervaluation of
commercial properties; and
WHEREAS
, this inequitable undervaluation of commercial property unfairly shifts the
burden of taxation to homeowners; and
WHEREAS
, the State of Texas and all taxing entities are losing billions of dollars in
potential revenue due to the undervaluation of commercial properties; and
WHEREAS
, Texas is one of only five states that does not require mandatory sales price.
NOW, THEREFORE BE IT RESOLVED
that the City of Coppell calls on the
Governor of the State of Texas and our representatives in the Texas Legislature to adopt
legislation requiring the mandatory disclosure of real property sales prices to appraisal
districts to ensure the fair and equitable valuation and taxation of all real property in the
State of Texas.
DULY PASSED by the City Council of the City of Coppell, Texas, this the / ~ay
of ~ .ckt ,2007.
APPROVED:
ATTEST:
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LIB Y B , CITY SECRETARY