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House Bill 3833 |
House Author: King, Phil et al. |
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Effective: 6-15-21 |
Senate Sponsor: Hancock |
House Bill 3833 amends the Tax Code to decrease the number of years used in calculating the rollback taxes due following a change in use of land appraised as recreational, park, or scenic land; public access airport property; or restricted‑use timber land to harmonize that period with the three‑year period used in calculating rollback taxes due following a change in use of open‑space or timber land. The bill also eliminates the interest due when calculating the rollback taxes owed as a result of a change in use of any such type of land. Additionally, the bill revises the appraisal procedures for properties used for low‑income or moderate‑income housing to require that the appraised value be adjusted to account for percentage of project construction completion and actual occupancy of the property, as applicable.