By Cain S.B. No. 868
76R6480 SMH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the treatment of the limitation on increases in the
1-3 appraised value of a residence homestead in the determination of
1-4 school district property values by the comptroller.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 403.302(d), Government Code, as amended
1-7 by Section 44, Chapter 1039, Section 63, Chapter 1040, and Section
1-8 27, Chapter 1071, Acts of the 75th Legislature, Regular Session,
1-9 1997, is reenacted and amended to read as follows:
1-10 (d) For the purposes of this section, "taxable value" means
1-11 the market value of all taxable property less:
1-12 (1) the total dollar amount of any residence homestead
1-13 exemptions lawfully granted under Section 11.13(b) or (c), Tax
1-14 Code, in the year that is the subject of the study for each school
1-15 district;
1-16 (2) the total dollar amount of any exemptions granted
1-17 before May 31, 1993, within a reinvestment zone under agreements
1-18 authorized by Chapter 312, Tax Code;
1-19 (3) the total dollar amount of any captured appraised
1-20 value of property that is located in a reinvestment zone on August
1-21 31, 1999, generates a tax increment paid into a tax increment fund,
1-22 and is eligible for tax increment financing under Chapter 311, Tax
1-23 Code, under a reinvestment zone financing plan approved under
1-24 Section 311.011(d), Tax Code, before September 1, 1999;
2-1 (4) the total dollar amount of any exemptions granted
2-2 under Section 11.251, Tax Code;
2-3 (5) the difference between the comptroller's estimate
2-4 of the market value and the productivity value of land that
2-5 qualifies for appraisal on the basis of its productive capacity,
2-6 except that the productivity value estimated by the comptroller may
2-7 not exceed the fair market value of the land;
2-8 (6) the portion of the appraised value of residence
2-9 homesteads of the elderly on which school district taxes are not
2-10 imposed in the year that is the subject of the study, calculated as
2-11 if the residence homesteads were appraised at the full value
2-12 required by law;
2-13 (7) a portion of the market value of property not
2-14 otherwise fully taxable by the district at market value because of
2-15 action required by statute or the constitution of this state that,
2-16 if the tax rate adopted by the district is applied to it, produces
2-17 an amount equal to the difference between the tax that the district
2-18 would have imposed on the property if the property were fully
2-19 taxable at market value and the tax that the district is actually
2-20 authorized to impose on the property, if this subsection does not
2-21 otherwise require that portion to be deducted;
2-22 (8) the market value of all tangible personal
2-23 property, other than manufactured homes, owned by a family or
2-24 individual and not held or used for the production of income;
2-25 (9) the appraised value of property the collection of
2-26 delinquent taxes on which is deferred under Section 33.06, Tax
2-27 Code;
3-1 (10) the portion of the appraised value of property
3-2 the collection of delinquent taxes on which is deferred under
3-3 Section 33.065, Tax Code; and
3-4 (11) the amount by which the market value of a
3-5 residence homestead to which Section 23.23, Tax Code, applies
3-6 exceeds the appraised value of that property as calculated under
3-7 that section and as adjusted by applying the median level of
3-8 appraisal by the appraisal district for the appropriate category of
3-9 property as determined by the comptroller under Section 5.10, Tax
3-10 Code.
3-11 SECTION 2. This Act takes effect September 1, 1999.
3-12 SECTION 3. The importance of this legislation and the
3-13 crowded condition of the calendars in both houses create an
3-14 emergency and an imperative public necessity that the
3-15 constitutional rule requiring bills to be read on three several
3-16 days in each house be suspended, and this rule is hereby suspended.