Texas Tax Code

§ 23.13 — TAXABLE LEASEHOLDS

TX § 23.13Title 1. PROPERTY TAX CODE · Part D. APPRAISAL AND ASSESSMENT · Ch. 23. APPRAISAL METHODS AND PROCEDURES · Art. B. SPECIAL APPRAISAL PROVISIONS

Statute text

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A taxable leasehold or other possessory interest in real property that is exempt from taxation to the owner of the estate or interest encumbered by the possessory interest is appraised at the market value of the leasehold or other possessory interest. However, the appraised value may not be less than the total rental paid for the interest for the current tax year.

Legislative history

Acts 1979, 66th Leg., p. 2253, ch. 841, Sec. 1, eff. Jan. 1, 1982.