Relating to an exemption from ad valorem taxation of the portion of the appraised value of a person's property that is attributable to the installation on the property of a rainwater harvesting system.
Impact
The proposed bill is designed to amend Chapter 11 of the Texas Tax Code, specifically Section 11.32, which governs water conservation initiatives. If enacted, HB 2747 would empower local government bodies to adopt ordinances that explicitly grant tax exemptions for properties enhanced by approved water conservation methods, including rainwater harvesting. This amendment is anticipated to impact tax revenues collected from properties that implement these environmentally-friendly systems, as the taxable value of these properties would effectively be reduced, potentially leading to broader adoption of such technologies.
Summary
House Bill 2747 aims to provide an exemption from ad valorem taxation on the portion of a property’s appraised value that can be attributed to the installation of a rainwater harvesting system. The bill seeks to promote water conservation initiatives by encouraging property owners to invest in rainwater harvesting systems. By reducing the tax burden on these properties, the legislation intends to incentivize sustainable practices that can contribute to longer-term water resource management for the state.
Sentiment
Discussions surrounding HB 2747 have generally reflected a positive sentiment among proponents who view the tax exemption as a beneficial incentive for promoting sustainable water management practices. Environmental advocates and many homeowners see this as a crucial step in addressing water scarcity issues while enhancing property values. However, there might be concerns from local governments regarding potential revenue loss, which could lead to opposition based on fiscal arguments about the sustainability of such tax exemptions in community budgets.
Contention
Key points of contention surrounding HB 2747 may revolve around the long-term implications for local government funding and the prioritization of water conservation over other public expenditure needs. Critics may argue that while the bill aims to foster environmental stewardship, the fiscal impact on locally collected property taxes could hinder their ability to fund essential services. Furthermore, the specifics of how local governments can implement the tax exemption may lead to variations in adoption and effectiveness across different regions, thus raising questions about the equity and uniformity of such an exemption.
Relating to the authority of a county commissioners court to adopt an exemption from ad valorem taxation by each taxing unit that taxes the property of the portion of the appraised value of a person's property that is attributable to the installation in or on the property of certain water conservation systems.
Relating to the authority of a county commissioners court to adopt an exemption from ad valorem taxation by each taxing unit that taxes the property of the portion of the appraised value of a person's property that is attributable to the installation in or on the property of certain water conservation systems.
Relating to the exemption from ad valorem taxation of certain assets used for agricultural production and to the authority of a county commissioners court to adopt an exemption from ad valorem taxation by each taxing unit that taxes the property of the portion of the appraised value of a person's property that is attributable to the installation in or on the property of certain water conservation systems.
Proposing a constitutional amendment to authorize the commissioners court of a county to exempt from ad valorem taxation by each political subdivision that taxes the property the portion of the assessed value of a person's property that is attributable to the installation in or on the property of a rainwater harvesting or graywater system.
Proposing a constitutional amendment to authorize the commissioners court of a county to exempt from ad valorem taxation by each political subdivision that taxes the property the portion of the assessed value of a person's property that is attributable to the installation in or on the property of a rainwater harvesting or graywater system.
Proposing a constitutional amendment to authorize the legislature to define certain terms for purposes of the exemption from ad valorem taxation of farm products in the hands of a producer and to authorize the commissioners court of a county to exempt from ad valorem taxation by each political subdivision that taxes the property the portion of the assessed value of a person's property that is attributable to the installation in or on the property of a rainwater harvesting or graywater system.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property that arises from the installation in the property of certain energy efficiency-related improvements.
Relating to an exemption from ad valorem taxation of a portion of the appraised value of tangible personal property a person owns that is held or used for the production of income.
Relating to an exemption from ad valorem taxation of a portion of the appraised value of tangible personal property that is held or used for the production of income and a franchise tax credit for the payment of certain related ad valorem taxes.