Relating to the repeal of the additional ad valorem taxes imposed as a result of certain changes in the use of open-space land appraised as agricultural land.
Impact
The bill's impact on state law revolves around the taxation of agricultural properties and the prevention of additional financial liabilities that property owners may face if they change the use of their land. By repealing these additional taxes, the bill is expected to promote the preservation of agricultural land and encourage landowners to utilize their properties in ways that may align more with current market conditions without the fear of incurring further tax obligations. This could foster a more favorable environment for agricultural enterprises and local economy sustainability.
Summary
House Bill 133 seeks to repeal additional ad valorem taxes that are imposed when there are changes in the usage of open-space land that has been appraised as agricultural land. The bill aims to modify several sections of the Texas Tax Code to eliminate these additional taxes, specifically addressing provisions that classify certain changes in property use as triggers for extra tax liabilities. This legislative change is positioned to alleviate financial burdens on landowners who alter the use of their agricultural properties.
Contention
Notable points of contention regarding HB 133 include potential concerns from local governments that may rely on the revenue generated from these ad valorem taxes. Opponents may argue that the repeal of such taxes could reduce funding for local services, impacting community development and infrastructure. Additionally, there may be differing opinions about the balance between promoting agricultural development and ensuring that local jurisdictions are adequately funded to provide essential public services.
Identical
Relating to the repeal of the additional ad valorem taxes imposed as a result of certain changes in the use of open-space land appraised as agricultural land.
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.
Relating to the authority of the owner of a residence homestead to receive a discount for making an early payment of the ad valorem taxes on the homestead.
Relating to the procedure for delivery by a chief appraiser of a form for reapplying for the appraisal of land for ad valorem tax purposes as agricultural or open-space land.
Relating to the repeal of the additional ad valorem taxes imposed as a result of the sale or change in the use of land appraised as agricultural or open-space land.
Relating to the eligibility of certain land for appraisal for ad valorem tax purposes on the basis of its productivity value and the consequences for those purposes of a change of use or sale of the land.
Relating to the repeal of the additional ad valorem taxes imposed as a result of certain changes in the use of agricultural land, open-space land, and timber land.