During its board meeting on Nov. 13, the Fort Bend ISD Board of Trustees unanimously passed a resolution to request a reappraisal of homes and businesses located within Fort Bend ISD that were damaged during Hurricane Harvey.
FBISD joins other Fort Bend County taxing entities in authorizing reappraisals that would give qualified residents and business owners some tax relief for certain months of the 2017 tax year.
“Hurricane Harvey impacted many of our community members,” said board president Kristin Tassin. “In requesting the reappraisal of homes and businesses, we are recognizing the continuing effects of the storm, and we hope that this will help our taxpayers as they continue the recovery process.”
Under the tax code, the governing body of a taxing unit located partly or entirely inside an area declared to be a disaster area by the Governor of Texas may authorize the reappraisal of all property damaged in the disaster at its market value immediately after the disaster.
“Fort Bend ISD’s action means that taxpayers impacted by Hurricane Harvey will be able to have their property reappraised, and they will receive prorated taxes on the property for this tax year,” said Steve Bassett, Fort Bend ISD’s chief financial officer.
“The application of the reduced value is only for the days following the damage of the disaster, but this will still result in approximately four months of a reduced value for our taxpayers.”
Based on the information presented by the Central Appraisal District, FBISD has calculated that the benefit to approximately 4,300 Harvey-impacted taxpayers (representing an estimated market value of $1.462 billion) would amount to an estimated $348 in relief for the tax year. However, those who are over 65 who have value frozen at a set ceiling may not achieve tax relief because their value is higher than the cap and the reappraisal may not dip below the set ceiling.