Texas Finance Code

§ 89.003 — RENDITION OF CERTAIN PERSONAL PROPERTY FOR AD VALOREM TAXATION

FI § 89.003Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 89. MISCELLANEOUS PROVISIONS APPLICABLE TO SAVINGS AND LOAN ASSOCIATIONS · Art. A. GENERAL MISCELLANEOUS PROVISIONS

Statute text

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(a)Each association and each federal association shall render for ad valorem taxation all of its personal property, other than furniture, fixtures, equipment, and automobiles, as a whole at the value remaining after deducting the following from the total value of its entire assets:

(1)all debts that it owes;

(2)all tax-free securities that it owns;

(3)its loss reserves and surplus;

(4)its savings liability; and

(5)the appraised value of its furniture, fixtures, and real property.

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.