Texas Tax Code
§ 11.34 — LIMITATION OF TAXES ON REAL PROPERTY IN DESIGNATED AREAS OF CERTAIN MUNICIPALITIES
TX § 11.34Title 1. PROPERTY TAX CODE · Part C. TAXABLE PROPERTY AND EXEMPTIONS · Ch. 11. TAXABLE PROPERTY AND EXEMPTIONS · Art. B. EXEMPTIONS
Statute text
View on source(a)This section applies only to a municipality having a population of less than 10,000.
(b)Acting under the authority of Section 1-o, Article VIII, Texas Constitution, the governing body of a municipality, by official action, may call an election in the municipality to permit the voters of the municipality to determine whether to authorize the governing body to enter into an agreement with an owner of real property in or adjacent to an area in the municipality that has been approved for funding under the programs administered by the Department of Agriculture as described by Section 1-o, Article VIII, Texas Constitution, under which the parties agree that the ad valorem taxes imposed by any political subdivision on the owner's real property may not be increased for the first five tax years after the tax year in which the agreement is entered into, subject to the terms and conditions provided by the agreement.
(c)If the authority to limit tax increases under this section is approved by the voters and the governing body of the municipality enters into an agreement to limit tax increases under this section, the tax officials shall appraise the property to which the limitation applies and calculate taxes as on other property, but if the tax so calculated exceeds the limitation, the tax imposed is the amount of the tax as limited by this section, except as provided by Subsections (f) and (g).
(d)An agreement to limit tax increases under this section must be entered into before December 31 of the tax year in which the election was held.
(e)A taxing unit may not increase the total annual amount of ad valorem taxes the taxing unit imposes on the property above the amount of the taxes the taxing unit imposed on the property in the tax year in which the governing body of the municipality entered into an agreement to limit tax increases under this section.
(f)Subject to Subsection (g), an agreement to limit tax increases under this section expires on the earlier of:
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Legislative history
Added by Acts 2009, 81st Leg., R.S., Ch. 464 (S.B. 252), Sec. 1, eff. June 19, 2009.