Terms Used In Texas Tax Code Chapter 23 > Subchapter D - Appraisal of Agricultural Land

• Appraisal: A determination of property value.
• Appraised value: means the value determined as provided by Chapter 23 of this code. See Texas Tax Code 1.04
• Assessor: means the officer or employee responsible for assessing property taxes as provided by Chapter 26 of this code for a taxing unit by whatever title he is designated. See Texas Tax Code 1.04
• Collector: means the officer or employee responsible for collecting property taxes for a taxing unit by whatever title he is designated. See Texas Tax Code 1.04
• Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Market value: means the price at which a property would transfer for cash or its equivalent under prevailing market conditions if:
  (A) exposed for sale in the open market with a reasonable time for the seller to find a purchaser;
  (B) both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions on its use; and
  (C) both the seller and purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other. See Texas Tax Code 1.04
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• 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
• Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
• Property: means real and personal property. See Texas Government Code 311.005
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: means :
  (A) land;
  (B) an improvement;
  (C) a mine or quarry;
  (D) a mineral in place;
  (E) standing timber; or
  (F) an estate or interest, other than a mortgage or deed of trust creating a lien on property or an interest securing payment or performance of an obligation, in a property enumerated in Paragraphs (A) through (E) of this subdivision. See Texas Tax Code 1.04
• Rule: includes regulation. See Texas Government Code 311.005
• Tax year: means the calendar year. See Texas Tax Code 1.04
• 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
• United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
• Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
• Year: means 12 consecutive months. See Texas Government Code 311.005