§ 507.201 Exemption From Certain Taxes
§ 507.202 Payment in Lieu of Ad Valorem Taxes

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Terms Used In Texas Local Government Code Chapter 507 > Subchapter E - Taxes

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Personal property: All property that is not real property.
  • Property: means real and personal property. See Texas Government Code 311.005