Texas Education Code - Section 42.2521. Adjustment For Rapid Decline In Taxable Value Of Property
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§ 42.2521. ADJUSTMENT FOR RAPID DECLINE IN TAXABLE VALUE
OF PROPERTY. (a) For purposes of Chapters 41 and 46 and this
chapter, and to the extent money specifically authorized to be used
under this section is available, the commissioner shall adjust the
taxable value of property in a school district that, due to factors
beyond the control of the board of trustees, experiences a rapid
decline in the tax base used in calculating taxable values in excess
of four percent of the tax base used in the preceding year.
(b) To the extent that a sufficient amount of money is not
available to fund all adjustments under this section, the
commissioner shall reduce adjustments in the manner provided by
Section 42.253(h) so that the total amount of adjustments equals
the amount of money available to fund the adjustments.
(c) A decision of the commissioner under this section is
final and may not be appealed.
Added by Acts 1999, 76th Leg., ch. 396, § 1.18, eff. Sept. 1,
1999.
Section: 42.2512 42.2513 42.2514 42.2515 42.2516 42.2517 42.2521 42.2522 42.253 42.2531 42.254 42.255 42.257 42.258
Last modified: August 10, 2007
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