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House Bill 2500 |
House Author: Bohac et al. |
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Effective: 1-1-14 |
Senate Sponsor: Watson et al. |
House Bill 2500 amends the Tax Code to require a chief appraiser to use the cost method of appraisal to determine for property tax purposes the market value of solar energy property that is used for commercial purposes and is constructed or installed on or after January 1, 2014. The bill requires the chief appraiser, in making that determination, to use cost data obtained from generally accepted sources, make any appropriate adjustment for obsolescence and any other justifiable factor, and calculate the depreciated value of the property by using a useful life that does not exceed 10 years, except that the depreciated value in any tax year cannot be less than 20 percent of the value computed after making the appropriate adjustments to the value derived from the cost data.