Texas Water Code
§ 49.23602 — AUTOMATIC ELECTION TO APPROVE TAX RATE FOR CERTAIN DEVELOPED DISTRICTS
WA § 49.23602Title 4. GENERAL LAW DISTRICTS · Ch. 49. PROVISIONS APPLICABLE TO ALL DISTRICTS · Art. H. POWERS AND DUTIES
Statute text
View on source(a)In this section:
(1)"Developed district" means a district that has financed, completed, and issued bonds to pay for all land, works, improvements, facilities, plants, equipment, and appliances necessary to serve at least 95 percent of the projected build-out of the district in accordance with the purposes for its creation or the purposes authorized by the constitution, this code, or any other law.
(2)"Mandatory tax election rate" means the rate equal to the sum of the following tax rates for the district:
(A)the rate that would impose 1.035 times the amount of tax imposed by the district in the preceding year on a residence homestead appraised at the average appraised value of a residence homestead in the district in that year, disregarding any homestead exemption available only to disabled persons or persons 65 years of age or older; and
(B)the unused increment rate.
(3)"Unused increment rate" has the meaning assigned by Section 26.013, Tax Code.
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Legislative history
Acts 2023, 88th Leg., R.S., Ch. 1009 (H.B. 2815), Sec. 18, eff. June 18, 2023.