Enrolled Bill Summary

House Bill 1723 amends the Tax Code to allow property that has been appraised for at least five years as open-space land, on its conversion to timber production, to continue to qualify for open-space rather than timberland appraisal. The owner may opt for continued open-space appraisal by submitting a new application, and the option remains in effect for 15 years following the conversion, or until another change of use occurs. On expiration of the 15 years, the land if eligible qualifies for timberland appraisal.