| 1 | 1 | | 85S11405 CJC-F |
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| 2 | 2 | | By: Morrison H.B. No. 303 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the definition of new property value for purposes of the |
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| 8 | 8 | | calculation of certain ad valorem tax rates for a county. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 26.012(17), Tax Code, is amended to read |
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| 11 | 11 | | as follows: |
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| 12 | 12 | | (17) "New property value" means: |
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| 13 | 13 | | (A) the total taxable value of property added to |
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| 14 | 14 | | the appraisal roll in the current year by annexation and |
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| 15 | 15 | | improvements listed on the appraisal roll that were made after |
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| 16 | 16 | | January 1 of the preceding tax year, including personal property |
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| 17 | 17 | | located in new improvements that was brought into the unit after |
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| 18 | 18 | | January 1 of the preceding tax year; |
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| 19 | 19 | | (B) property value that is included in the |
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| 20 | 20 | | current total value for the tax year succeeding a tax year in which |
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| 21 | 21 | | any portion of the value of the property was excluded from the total |
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| 22 | 22 | | value because of the application of a tax abatement agreement to all |
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| 23 | 23 | | or a portion of the property, less the value of the property that |
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| 24 | 24 | | was included in the total value for the preceding tax year; [and] |
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| 25 | 25 | | (C) for purposes of an entity created under |
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| 26 | 26 | | Section 52, Article III, or Section 59, Article XVI, Texas |
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| 27 | 27 | | Constitution, property value that is included in the current total |
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| 28 | 28 | | value for the tax year succeeding a tax year in which the following |
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| 29 | 29 | | occurs: |
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| 30 | 30 | | (i) the subdivision of land by plat; |
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| 31 | 31 | | (ii) the installation of water, sewer, or |
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| 32 | 32 | | drainage lines; or |
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| 33 | 33 | | (iii) the paving of undeveloped land; and |
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| 34 | 34 | | (D) for purposes of a county, the increase in |
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| 35 | 35 | | total taxable value of real property interests in oil or gas in |
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| 36 | 36 | | place listed on the appraisal roll in the current year attributable |
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| 37 | 37 | | to the production of oil or gas from wells completed after January 1 |
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| 38 | 38 | | of the preceding year. |
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| 39 | 39 | | SECTION 2. This Act applies to the calculation of certain ad |
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| 40 | 40 | | valorem tax rates for a county only for a tax year beginning on or |
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| 41 | 41 | | after the effective date of this Act. |
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| 42 | 42 | | SECTION 3. This Act takes effect January 1, 2018. |
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