Texas Special District Local Laws Code § 3805.255 Payment In Lieu Of Taxes To Other Taxing Unit

Sec. 3805.255. PAYMENT IN LIEU OF TAXES TO OTHER TAXING UNIT. If the district's acquisition of property for a parking facility that is leased to or operated by a private entity results in removing from a taxing unit's tax rolls real property otherwise subject to ad valorem taxation, the district shall pay to the taxing unit in which the property is located, on or before January 1 of each year, as a payment in lieu of taxes, an amount equal to the ad valorem taxes that otherwise would have been levied for the preceding tax year on that real property by the taxing unit, without including the value of any improvements constructed on the property.

Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 18.003(g), eff. September 1, 2005.

Section: Previous  3805.106  3805.151  3805.152  3805.1525  3805.1526  3805.153  3805.154  3805.155  3805.156  3805.157  3805.201  3805.251  3805.252  3805.253  3805.254

Last modified: September 28, 2016