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Terms Used In Texas Insurance Code 401.059

  • Appraisal: A determination of property value.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Property: means real and personal property. See Texas Government Code 311.005

In determining the value or market value of an investment in or on real estate or an improvement to real estate by a carrier authorized to engage in business in this state, the department, in administering this code, may consider any factor or matter that the department considers proper and material, including:
(1) an appraisal by a real estate board or other qualified person;
(2) an affidavit by another person familiar with those values;
(3) a tax valuation;
(4) the cost of acquisition after deducting for depreciation and obsolescence;
(5) the cost of replacement;
(6) sales of other comparable property;
(7) enhancement in value from any cause;
(8) income received or to be received; and
(9) any improvements made.