Texas Tax Code 25.16 – Property Losing Exemption During Tax Year
Current as of: 2024 | Check for updates
|
Other versions
(a) If an exemption applicable to a property on January 1 terminates during the tax year, the property shall be listed in the name of the person who owns or acquires the property on the date applicability of the exemption terminates.
(b) The chief appraiser shall make an entry on the appraisal records showing that taxes on the property are to be calculated as provided by § 26.10 of this code and showing the date on which exemption terminated.
Terms Used In Texas Tax Code 25.16
- Appraisal: A determination of property value.
- 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
- Property: means real and personal property. See Texas Government Code 311.005
- Tax year: means the calendar year. See Texas Tax Code 1.04