Texas § 403.605 TAXABLE VALUE OF ELIGIBLE PROPERTY.

Texas Statutes

§ 403.605 — TAXABLE VALUE OF ELIGIBLE PROPERTY.

Texas § 403.605

Code GVGovernment Code

This text of Texas § 403.605 (TAXABLE VALUE OF ELIGIBLE PROPERTY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 403.605 (2026).

Text

Sec. 403.605. TAXABLE VALUE OF ELIGIBLE PROPERTY.

(a)The taxable value for school district maintenance and operations ad valorem tax purposes of eligible property subject to an agreement for each tax year of the incentive period prescribed by the agreement is equal to:

(1)50 percent of the market value of the property for that tax year; or

(2)if the property is located in a qualified opportunity zone, 25 percent of the market value of the property for that tax year.

(b)The taxable value of eligible property for school district maintenance and operations ad valorem tax purposes is zero for each tax year beginning with the tax year following the year in which the agreement pertaining to the property is entered into and ending December 31 of the tax year that includes the construction com

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Sec. 403.605. TAXABLE VALUE OF ELIGIBLE PROPERTY. (a) The taxable value for school district maintenance and operations ad valorem tax purposes of eligible property subject to an agreement for each tax year of the incentive period prescribed by the agreement is equal to:
(1) 50 percent of the market value of the property for that tax year; or
(2) if the property is located in a qualified opportunity zone, 25 percent of the market value of the property for that tax year.
(b) The taxable value of eligible property for school district maintenance and operations ad valorem tax purposes is zero for each tax year beginning with the tax year following the year in which the agreement pertaining to the property is entered into and ending December 31 of the tax year that includes the construction completion date for the applicable eligible project.
(c) The chief appraiser for the appraisal district in which eligible property is located shall determine the market value and appraised value of the property and include the market value, appraised value, and taxable value of the property as determined under this section in the appraisal records for the appraisal district.
(d) The chief appraiser for the appraisal district in which eligible property subject to an agreement is located may not use an estimated value included in the application to which the agreement pertains to determine the market value of the property.