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House Bill 1743 |
House Author: King, Tracy O. et al. |
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Effective: 9-1-19 |
Senate Sponsor: Creighton et al. |
House Bill 1743 amends the Tax Code to decrease from five to three the number of years preceding a change of use of land appraised for property tax purposes as open‑space land or timber land on which the amount of additional tax imposed on the land for the change of use is based. The bill also decreases from seven percent to five percent the annual interest rate added to that additional tax.