By: Morrison H.B. No. 3614
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 J
anuary 1, 2018.