Texas Tax Code 26.03 – Treatment of Captured Appraised Value and Tax Increment
Current as of: 2024 | Check for updates
|
Other versions
(a) In this section, “captured appraised value,” “reinvestment zone,” “tax increment,” and “tax increment fund” have the meanings assigned by Chapter 311.
(b) This section does not apply to a school district.
Terms Used In Texas Tax Code 26.03
- Appraised value: means the value determined as provided by Chapter 23 of this code. See Texas Tax Code 1.04
- Property: means real and personal property. See Texas Government Code 311.005
- Taxing unit: means a county, an incorporated city or town (including a home-rule city), a school district, a special district or authority (including a junior college district, a hospital district, a district created by or pursuant to the Water Code, a mosquito control district, a fire prevention district, or a noxious weed control district), or any other political unit of this state, whether created by or pursuant to the constitution or a local, special, or general law, that is authorized to impose and is imposing ad valorem taxes on property even if the governing body of another political unit determines the tax rate for the unit or otherwise governs its affairs. See Texas Tax Code 1.04
(c) The portion of the captured appraised value of real property taxable by a taxing unit that corresponds to the portion of the tax increment of the unit from that property that the unit has agreed to pay into the tax increment fund for a reinvestment zone and that is not included in the calculation of “new property value” as defined by § 26.012 is excluded from the value of property taxable by the unit in any tax rate calculation under this chapter.
(d) The portion of the tax increment of a taxing unit that the unit has agreed to pay into the tax increment fund for a reinvestment zone is excluded from the amount of taxes imposed or collected by the unit in any tax rate calculation under this chapter, except that the portion of the tax increment is not excluded if in the same tax rate calculation there is no portion of captured appraised value excluded from the value of property taxable by the unit under Subsection (c) for the same reinvestment zone.