Bill Text: TX SB1434 | 2013-2014 | 83rd Legislature | Introduced


Bill Title: Relating to the definition of new property value for purposes of the calculation of certain ad valorem tax rates for a county.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2013-04-25 - Reported from s/c favorably w/o amendments [SB1434 Detail]

Download: Texas-2013-SB1434-Introduced.html
  83R7314 CJC-F
 
  By: Hegar S.B. No. 1434
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the definition of new property value for purposes of the
  calculation of certain ad valorem tax rates for a county.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 26.012(17), Tax Code, is amended to read
  as follows:
               (17)  "New property value" means:
                     (A)  the total taxable value of property added to
  the appraisal roll in the current year by annexation and
  improvements listed on the appraisal roll that were made after
  January 1 of the preceding tax year, including personal property
  located in new improvements that was brought into the unit after
  January 1 of the preceding tax year;
                     (B)  property value that is included in the
  current total value for the tax year succeeding a tax year in which
  any portion of the value of the property was excluded from the total
  value because of the application of a tax abatement agreement to all
  or a portion of the property, less the value of the property that
  was included in the total value for the preceding tax year; [and]
                     (C)  for purposes of an entity created under
  Section 52, Article III, or Section 59, Article XVI, Texas
  Constitution, property value that is included in the current total
  value for the tax year succeeding a tax year in which the following
  occurs:
                           (i)  the subdivision of land by plat;
                           (ii)  the installation of water, sewer, or
  drainage lines; or
                           (iii)  the paving of undeveloped land; and
                     (D)  for purposes of a county, the increase in
  total taxable value of real property interests in oil or gas in
  place listed on the appraisal roll in the current year attributable
  to the production of oil or gas from wells completed after January 1
  of the preceding year.
         SECTION 2.  This Act applies to the calculation of certain ad
  valorem tax rates for a county only for a tax year beginning on or
  after the effective date of this Act.
         SECTION 3.  This Act takes effect January 1, 2014.
feedback