| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the appraisal for ad valorem tax purposes of tangible |
|
|
personal property used for the production of income that, in the |
|
|
owner's opinion, has an aggregate value of less than a certain |
|
|
amount. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by |
|
|
adding Section 23.1212 to read as follows: |
|
|
Sec. 23.1212. INCOME-PRODUCING TANGIBLE PERSONAL PROPERTY |
|
|
HAVING VALUE OF LESS THAN $20,000. (a) This section applies only |
|
|
to tangible personal property used for the production of income |
|
|
that: |
|
|
(1) in the property owner's opinion, has an aggregate |
|
|
value of less than $20,000; and |
|
|
(2) is rendered in the manner provided by Section |
|
|
22.01(f). |
|
|
(b) The chief appraiser shall determine the appraised value |
|
|
of property to which this section applies to be the property owner's |
|
|
good faith estimate of the aggregate market value of the property as |
|
|
contained in the rendition statement for the property unless the |
|
|
chief appraiser determines there is clear and convincing evidence |
|
|
that the owner's good faith estimate is incorrect. |
|
|
(c) Section 22.01(g) does not apply to a protest, hearing, |
|
|
appeal, suit, or other proceeding under this title relating to the |
|
|
appraised value of property to which this section applies. |
|
|
SECTION 2. This Act applies beginning with the 2024 tax |
|
|
year. |
|
|
SECTION 3. This Act takes effect January 1, 2024. |