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A BILL TO BE ENTITLED
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AN ACT
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relating to the definition of new property value for purposes of the |
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calculation of certain ad valorem tax rates for a county. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 26.012(17), Tax Code, is amended to read |
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as follows: |
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(17) "New property value" means: |
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(A) the total taxable value of property added to |
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the appraisal roll in the current year by annexation and |
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improvements listed on the appraisal roll that were made after |
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January 1 of the preceding tax year, including personal property |
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located in new improvements that was brought into the unit after |
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January 1 of the preceding tax year; |
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(B) property value that is included in the |
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current total value for the tax year succeeding a tax year in which |
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any portion of the value of the property was excluded from the total |
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value because of the application of a tax abatement agreement to all |
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or a portion of the property, less the value of the property that |
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was included in the total value for the preceding tax year; [and] |
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(C) for purposes of an entity created under |
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Section 52, Article III, or Section 59, Article XVI, Texas |
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Constitution, property value that is included in the current total |
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value for the tax year succeeding a tax year in which the following |
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occurs: |
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(i) the subdivision of land by plat; |
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(ii) the installation of water, sewer, or |
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drainage lines; or |
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(iii) the paving of undeveloped land; and |
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(D) for purposes of a county, the increase in |
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total taxable value of real property interests in oil or gas in |
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place listed on the appraisal roll in the current year attributable |
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to the production of oil or gas from wells completed after January 1 |
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of the preceding year. |
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SECTION 2. This Act applies to the calculation of certain ad |
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valorem tax rates for a county only for a tax year beginning on or |
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after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2014. |