Texas § 26.111 PRORATING TAXES--ACQUISITION BY CHARITABLE ORGANIZATION.

Texas Statutes

§ 26.111 — PRORATING TAXES--ACQUISITION BY CHARITABLE ORGANIZATION.

Texas § 26.111

Code TXTax Code

This text of Texas § 26.111 (PRORATING TAXES--ACQUISITION BY CHARITABLE ORGANIZATION.) 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.

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Tex. Tax Code Code Ann. § 26.111 (2026).

Text

Sec. 26.111. PRORATING TAXES--ACQUISITION BY CHARITABLE ORGANIZATION.

(a)If an organization acquires taxable property that qualifies for and is granted an exemption under Section 11.181 (a) or 11.182 (a) for the year in which the property was acquired, the amount of tax due on the property for that year is calculated by multiplying the amount of taxes imposed on the property for the entire year as provided by Section 26.09 by a fraction, the denominator of which is 365 and the numerator of which is the number of days in that year before the date the charitable organization acquired the property.

(b)If the exemption terminates during the year of acquisition, the tax due is calculated by multiplying the taxes imposed for the entire year as provided by Section 26.09 by a fraction, the denom

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Sec. 26.111. PRORATING TAXES--ACQUISITION BY CHARITABLE ORGANIZATION. (a) If an organization acquires taxable property that qualifies for and is granted an exemption under Section 11.181 (a) or 11.182 (a) for the year in which the property was acquired, the amount of tax due on the property for that year is calculated by multiplying the amount of taxes imposed on the property for the entire year as provided by Section 26.09 by a fraction, the denominator of which is 365 and the numerator of which is the number of days in that year before the date the charitable organization acquired the property.
(b) If the exemption terminates during the year of acquisition, the tax due is calculated by multiplying the taxes imposed for the entire year as provided by Section 26.09 by a fraction, the denominator of which is 365 and the numerator of which is the number of days the property does not qualify for the exemption.