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House Bill 3630 |
House Author: Van Arsdale |
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Effective: 1-1-08 |
Senate Sponsor: Hegar |
House Bill 3630 amends provisions of the Tax Code relating to the appraisal of agricultural or open-space land for property taxes. The bill establishes certain mandatory computations to be used in the appraisal of land used for a single-family residence that is contiguous to agricultural or open-space land with common ownership, clarifies the definition of agricultural use, and prohibits the agricultural-use designation on or after January 1, 2008, for land used to secure a home equity loan. The bill replaces language relating to information required to be contained in notices of certain public hearings and proceedings. House Bill 3630 requires the notice of appraised value for residential real property to include information relating to the property's qualification for a residence homestead exemption. House Bill 3630 requires a taxing unit to conduct two, rather than one, public hearings relating to a proposed property tax increase. The bill requires the notice of the hearings to reflect that change and to include certain information comparing the average taxable value for a residence homestead in both the preceding and current tax years and the amount of taxes imposed on the average home in the preceding year and the amount that would be imposed on the average home in the current year at both the effective and proposed tax rates. The bill also requires public notice relating to a taxing unit's vote to increase taxes to include comparisons between the amount of revenue raised under the previous tax rate and the amount to be raised under the proposed rate increase, both when new property added to the tax base is excluded and when it is included. The bill repeals provisions relating to notice, hearings, and votes on tax increases.