Enrolled Bill Summary

Under the Tax Code, the normal qualification date for property tax exemptions for a particular tax year is January 1. An otherwise eligible person or organization acquiring property later in the year is not eligible for the exemption for that year.

Senate Bill 95 grants an exception, applicable to the exemptions for cemeteries, charitable organizations, youth development associations, religious organizations, schools, nonprofit water supply or waste service corporations, and certain other entities, for properties acquired after January 1. The tax due on such property is prorated for the applicable portion of the year.