| 1 | 1 | | By: King of Uvalde H.B. No. 4411 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the property tax appraisal option of rural utilities |
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| 7 | 7 | | for rendering market value for property which falls into multiple |
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| 8 | 8 | | tax jurisdictions. |
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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. Chapter 23 of the Texas Tax Code is amended by |
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| 11 | 11 | | adding new sub-chapter 23.191 to read as follows: |
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| 12 | 12 | | Sec. 23.191. APPRAISAL OPTION FOR PROPERTY OWNED BY RURAL |
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| 13 | 13 | | UTILITIES. |
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| 14 | 14 | | (a) In this section a rural utility shall have an option for |
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| 15 | 15 | | the equitable market value appraisal of its utility plant which in |
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| 16 | 16 | | located, and provides service, in multiple county taxing |
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| 17 | 17 | | jurisdictions. |
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| 18 | 18 | | (b) If an appraisal district receives a written notice for |
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| 19 | 19 | | the appraisal of real property, improvements, and personal property |
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| 20 | 20 | | of a rural utility, the chief appraiser shall accept the rural |
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| 21 | 21 | | utility's rendition of its property as the presumptive market value |
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| 22 | 22 | | for purposes of determining the appropriate value on which a tax is |
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| 23 | 23 | | imposed under this title. |
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| 24 | 24 | | (c) An appraisal under this section applies to the tax year |
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| 25 | 25 | | in which a request is made under this section only if the request is |
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| 26 | 26 | | received by the appraisal district on or before March 1 of each |
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| 27 | 27 | | year. If a request is not timely made then the appraisal will be |
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| 28 | 28 | | made pursuant to the other applicable provisions of this title, |
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| 29 | 29 | | including Section 22.01(h). |
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| 30 | 30 | | (d) The presumptive fair market value of the property |
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| 31 | 31 | | pursuant to this section shall be 20 percent of the rural utility's |
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| 32 | 32 | | net book value of its taxable property. A rural utility invoking |
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| 33 | 33 | | its option pursuant to this chapter shall provide to the chief |
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| 34 | 34 | | appraiser a certified accounting report of its property's net book |
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| 35 | 35 | | value, based on the independently-audited books of the rural |
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| 36 | 36 | | utility. |
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| 37 | 37 | | (e) The presumption established by this chapter may be |
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| 38 | 38 | | overcome, by either the rural utility or the chief appraiser, by a |
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| 39 | 39 | | preponderance of the evidence otherwise. |
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| 40 | 40 | | (f) A "rural utility" under this section is defined as an |
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| 41 | 41 | | entity that is subject to the provisions of Sec. 56.032 of the Texas |
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| 42 | 42 | | Utilities Code. |
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