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  89R9068 CS-D     By: Raymond H.B. No. 3557       A BILL TO BE ENTITLED   AN ACT   relating to the exclusion from the market value of real property for   ad valorem tax purposes of the value of any incomplete structure   located on the property.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter A, Chapter 23, Tax Code, is amended by   adding Section 23.015 to read as follows:           Sec.   23.015.     EXCLUSION OF VALUE OF INCOMPLETE STRUCTURE   INTENDED FOR HUMAN OCCUPANCY. (a) In determining the market value   of real property, the chief appraiser shall exclude from that value   the value of any structure located on the property if the structure:                 (1)  is intended for human occupancy;                 (2)     is separate from any other structure located on   the property; and                 (3)     is incomplete on January 1 of the tax year for   which the chief appraiser determines the market value of the   property.           (b)     For the purpose of this section, a structure is   considered complete:                 (1)     on the date a certificate of occupancy or similar   document is issued for the structure, if the structure is located in   a political subdivision that requires a person to obtain a   certificate of occupancy or similar document before the structure   may be occupied; or                 (2)     if Subdivision (1) does not apply, on the date the   structure is no longer under active construction or other physical   preparation necessary for occupancy, as determined by the chief   appraiser.          SECTION 2.  Section 23.015, Tax Code, as added by this Act,   applies only to the appraisal of real property for ad valorem tax   purposes for an ad valorem tax year that begins on or after the   effective date of this Act.          SECTION 3.  This Act takes effect January 1, 2026.