| TO: | Honorable Fred Hill, Chair, House Committee on Local Government Ways and Means |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HJR72 by Kuempel (Proposing a constitutional amendment to authorize the legislature to provide for the immediate qualification of newly acquired open-space land for ad valorem tax appraisal on the basis of its productive capacity.), As Introduced |
The cost to the state for publication of the resolution is $85,275.
The resolution would propose an amendment to authorize the Legislature to provide, under certain circumstances, for the immediate qualification of newly acquired land as qualified open-space land.
To qualify, the owners would have to notify the chief appraiser that they intended to devote the land to farm, ranch, or wildlife management purposes. The proposed amendment would allow taxation of land on the basis of its productive capacity, based on the owner's intent, for not more than three years.
This proposed amendment, in and of itself, would have no fiscal impact on the state. If enabling legislation were enacted, however, there could be a fiscal impact on the state and units of local government.
| Source Agencies: | 304 Comptroller of Public Accounts, 802 Parks and Wildlife Department
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| LBB Staff: | JK, SD, WP, DLBe
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