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A BILL TO BE ENTITLED
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AN ACT
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relating to the property tax appraisal option of rural utilities |
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for rendering market value for property which falls into multiple |
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tax jurisdictions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 23 of the Texas Tax Code is amended by |
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adding new sub-chapter 23.191 to read as follows: |
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Sec. 23.191. APPRAISAL OPTION FOR PROPERTY OWNED BY RURAL |
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UTILITIES. |
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(a) In this section a rural utility shall have an option for |
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the equitable market value appraisal of its utility plant which in |
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located, and provides service, in multiple county taxing |
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jurisdictions. |
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(b) If an appraisal district receives a written notice for |
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the appraisal of real property, improvements, and personal property |
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of a rural utility, the chief appraiser shall accept the rural |
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utility's rendition of its property as the presumptive market value |
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for purposes of determining the appropriate value on which a tax is |
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imposed under this title. |
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(c) An appraisal under this section applies to the tax year |
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in which a request is made under this section only if the request is |
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received by the appraisal district on or before March 1 of each |
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year. If a request is not timely made then the appraisal will be |
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made pursuant to the other applicable provisions of this title, |
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including Section 22.01(h). |
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(d) The presumptive fair market value of the property |
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pursuant to this section shall be 20 percent of the rural utility's |
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net book value of its taxable property. A rural utility invoking |
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its option pursuant to this chapter shall provide to the chief |
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appraiser a certified accounting report of its property's net book |
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value, based on the independently-audited books of the rural |
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utility. |
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(e) The presumption established by this chapter may be |
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overcome, by either the rural utility or the chief appraiser, by a |
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preponderance of the evidence otherwise. |
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(f) A "rural utility" under this section is defined as an |
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entity that is subject to the provisions of Sec. 56.032 of the Texas |
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Utilities Code. |