Tex. Special District Local Laws Code § 3818.155
PAYMENT INSTEAD OF TAXES TO OTHER TAXING UNITS
Texas · Texas Special District Local Laws Code · Status: effective
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- Tex. Special District Local Laws Code § 3818.155, PAYMENT INSTEAD OF TAXES TO OTHER TAXING UNITS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/593370
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Full text
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 instead of taxes, an amount equal to the ad valorem taxes that otherwise would have been imposed for the preceding tax year on that real property by the taxing unit, without including the value of any improvements constructed on the property.