88R6374 SHH-D
By: Middleton S.B. No. 433
A BILL TO BE ENTITLED
AN ACT
relating to the determination of the market value of solar energy
property for ad valorem tax purposes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 23.26(d), Tax Code, is amended to read as
follows:
(d) To determine the market value of solar energy property
using the cost method of appraisal, the chief appraiser shall:
(1) use cost data obtained from generally accepted
sources; and
(2) make any appropriate adjustment for physical,
functional, or economic obsolescence and any other justifiable
factor[; and
[(3) calculate the depreciated value of the property
by using a useful life that does not exceed 10 years].
SECTION 2. Section 23.26(e), Tax Code, is repealed.
SECTION 3. This Act applies only to an ad valorem tax year
that begins on or after the effective date of this Act.
SECTION 4. This Act takes effect January 1, 2024.