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A BILL TO BE ENTITLED
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AN ACT
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relating to the treatment for ad valorem tax purposes of real |
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property used for certain low-income or moderate-income housing in |
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certain counties. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.1825(s), Tax Code, is amended to read |
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as follows: |
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(s) Unless otherwise provided by the governing body of a |
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taxing unit any part of which is located in a county with a |
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population of at least 1.8 million under Subsection (x), for |
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property described by Subsection (f)(1), the amount of the |
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exemption under this section from taxation is 50 percent of the |
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appraised value of the property. In counties with a population in |
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excess of 4,100,000, the amount of the exemption under this section |
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from taxation is 100 percent of the appraised value of the property |
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if the property has been determined by the Texas Department of |
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Housing and Community Affairs to be owned by a nonprofit entity that |
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meets the requirements of subsection (b). |