LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
April 30, 1997
TO: Honorable Tom Craddick, Chair IN RE: Senate Bill No. 1033,
As Engrossed
Committee on Ways & Means By: Harris
House
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on SB1033 ( (Relating
to the ad valorem taxation of property and to the appraisal
of property for ad valorem tax purposes.) this office has detemined
the following:
Biennial Net Impact to General Revenue Funds by SB1033-As Engrossed
No significant fiscal implication to the State is anticipated.
FISCAL ANALYSIS
The bill would amend Section 23.55(f) of the
Tax Code to waive the rollback tax for land that changed from
a qualifying open-space use if the change of use occurred as
a result of a transfer of the property to the state or a political
subdivision of the state to be used for a public purpose.
Section
23.55 of the Tax Code provides for an additional tax penalty
(rollback tax) if the use of qualified open-space land changes.
The additional tax is equal to the difference between the taxes
the owner paid on the land and the taxes the owner would have
paid had the land been taxed on its market value for the five
years preceding the year in which the change of use occurred,
plus interest.
The bill would take effect September 1, 1997.
LOCAL
The bill would cause a loss of revenue to some taxing
units that would otherwise collect rollback taxes on land subject
to Section 23.55 of the Tax Code.
Source: Agencies: 304 Comptroller of Public Accounts
LBB Staff: JK ,RR ,BR