By Hochberg H.B. No. 2557
75R8780 JD-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the annual study of school district property values.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 403.302(d), Government Code, is amended
1-5 to read as follows:
1-6 (d) For the purposes of this section, "taxable value" means
1-7 market value less:
1-8 (1) the total dollar amount of any exemptions of part
1-9 but not all of the value of taxable property required by the
1-10 constitution or a statute that a district lawfully granted in the
1-11 year that is the subject of the study;
1-12 (2) the total dollar amount of any exemptions granted
1-13 before May 31, 1993, within a reinvestment zone under agreements
1-14 authorized by Chapter 312, Tax Code;
1-15 (3) the total dollar amount of any captured appraised
1-16 value of property that is located in a reinvestment zone and that
1-17 is eligible for tax increment financing under Chapter 311, Tax
1-18 Code;
1-19 (4) the total dollar amount of any exemptions granted
1-20 under Section 11.251, Tax Code;
1-21 (5) the difference between the market value and the
1-22 productivity value of land that qualifies for appraisal on the
1-23 basis of its productive capacity, except that the productivity
1-24 value may not exceed the fair market value of the land;
2-1 (6) the portion of the appraised value of residence
2-2 homesteads of the elderly on which school district taxes are not
2-3 imposed in the year that is the subject of the study, calculated as
2-4 if the residence homesteads were appraised at the full value
2-5 required by law;
2-6 (7) the portion of the appraised value of residence
2-7 homesteads on which school district taxes are not imposed in the
2-8 year that is the subject of the study because of the limitation
2-9 required by Section 1-b(i), Article VIII, Texas Constitution;
2-10 (8) a portion of the market value of property not
2-11 otherwise fully taxable by the district at market value because of
2-12 action required by statute or the constitution of this state that,
2-13 if the tax rate adopted by the district is applied to it, produces
2-14 an amount equal to the difference between the tax that the district
2-15 would have imposed on the property if the property were fully
2-16 taxable at market value and the tax that the district is actually
2-17 authorized to impose on the property; and
2-18 (9) [(8)] the market value of all tangible personal
2-19 property, other than manufactured homes, owned by a family or
2-20 individual and not held or used for the production of income.
2-21 SECTION 2. This Act takes effect only if the constitutional
2-22 amendment proposed by ___ J.R. No. _____, 75th Legislature, Regular
2-23 Session, l997, takes effect. If that amendment is not approved by
2-24 the voters, this Act has no effect.
2-25 SECTION 3. The importance of this legislation and the
2-26 crowded condition of the calendars in both houses create an
2-27 emergency and an imperative public necessity that the
3-1 constitutional rule requiring bills to be read on three several
3-2 days in each house be suspended, and this rule is hereby suspended.