Relating to the authority of the Travis County Municipal Utility District No. 3 to enter into certain agreements relating to the ad valorem taxation of certain property located in the district.
Impact
The bill alters the existing protocols surrounding ad valorem taxes within Travis County. By enabling agreements for properties exempt from taxation to be taxed, it introduces a new operational framework for the district. This change is likely to generate additional revenue for the district by capturing properties that were previously unassessed. Importantly, the law stipulates that any agreements must be filed by the chief appraiser in a timely manner before the tax year in which they take effect, ensuring that the district can effectively manage new tax assessments.
Summary
House Bill 4329 focuses on the authority granted to the Travis County Municipal Utility District No. 3 regarding agreements with property owners concerning ad valorem taxation. This legislation allows the district to enter into agreements that would enable the taxation of properties that are otherwise exempt from such taxes. The provisions outlined in the bill aim to streamline the process for imposing taxes on properties that may have previously enjoyed exemptions, thereby formalizing a method through which properties could be taxable under district jurisdiction.
Sentiment
The sentiment regarding HB 4329 appears to be supportive within certain legislative circles, as indicated by the unanimous voting history, where it received 144 votes in favor with none against. This overwhelming support suggests that lawmakers view the bill as a necessary adaptation to improve tax collection efficiency in the districts. However, like similar legislation, there may be concerns raised by property owners regarding the implications of such taxation changes, particularly about the potential for increased financial burdens.
Contention
While the bill passed without opposition, potential points of contention may arise from affected property owners who were previously exempt from ad valorem taxation. Legislators will need to ensure that these new agreements do not disproportionately impact low-income property owners or undermine local sentiments about property tax fairness. Transparency in how these agreements are established and enforced will be crucial in avoiding disputes and maintaining public confidence in the local utility district's governance.
Relating to the duty of a school district to enter into an ad valorem tax abatement agreement under the Property Redevelopment and Tax Abatement Act for certain property.
Relating to the authority of a taxing unit other than a school district, county, municipality, or junior college district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses and to the information required to be included in a tax bill.
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 a local option exemption from ad valorem taxation by a county or municipality of all or part of the appraised value of real property used to operate a child-care facility.
A bill for an act relating to funding calculations for the teacher salary supplement, professional development supplement, early intervention supplement, and teacher leadership supplement for school districts that materially breach an interscholastic sharing agreement, and including effective date and applicability provisions.