The City of Austin has sued the Texas comptroller's office, arguing the state's property appraisal system is unconstitutional because it provides no "equal and uniform" property value taxation.
Mayor Steve Adler announced the suit, which was filed Monday in state district court in Austin.
It follows a city petition in June that alleged commercial and vacant property in Travis County, which includes Austin, was valued at more than $30 billion below market value.
The 10-page suit says the current system routinely allows property values to be set well under market value, including for homeowners who can escape otherwise heavy tax burdens. Among other things, it seeks to make disclosing sales prices mandatory. Texas currently is one of few states not requiring property sales price disclosure.
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Information from: Austin American-Statesman, http://www.statesman.com
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