By: King of Uvalde H.B. No. 4411
A BILL TO BE ENTITLED
AN ACT
relating to the property tax appraisal option of rural utilities
for rendering market value for property which falls into multiple
tax jurisdictions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 23 of the Texas Tax Code is amended by
adding new sub-chapter 23.191 to read as follows:
Sec. 23.191. APPRAISAL OPTION FOR PROPERTY OWNED BY RURAL
UTILITIES.
(a) In this section a rural utility shall have an option for
the equitable market value appraisal of its utility plant which in
located, and provides service, in multiple county taxing
jurisdictions.
(b) If an appraisal district receives a written notice for
the appraisal of real property, improvements, and personal property
of a rural utility, the chief appraiser shall accept the rural
utility's rendition of its property as the presumptive market value
for purposes of determining the appropriate value on which a tax is
imposed under this title.
(c) An appraisal under this section applies to the tax year
in which a request is made under this section only if the request is
received by the appraisal district on or before March 1 of each
year. If a request is not timely made then the appraisal will be
made pursuant to the other applicable provisions of this title,
including Section 22.01(h).
(d) The presumptive fair market value of the property
pursuant to this section shall be 20 percent of the rural utility's
net book value of its taxable property. A rural utility invoking
its option pursuant to this chapter shall provide to the chief
appraiser a certified accounting report of its property's net book
value, based on the independently-audited books of the rural
utility.
(e) The presumption established by this chapter may be
overcome, by either the rural utility or the chief appraiser, by a
preponderance of the evidence otherwise.
(f) A "rural utility" under this section is defined as an
entity that is subject to the provisions of Sec. 56.032 of the Texas
Utilities Code.