Reports Of Property Value Instructions - Texas Comptroller Of Public Accounts Page 9
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28disabled and the value the district lost due to this exemp-
maximum value. Report the number granted and the
tion. (This item is deducted as an exemption for school
value the district lost due to this exemption. (This item is
funding purposes.)
deducted for school funding purposes.)
Item 6. Total value lost to local option age 65 or older or
Item 9. Total value lost to freeport exemptions. A per-
disabled homestead exemptions. Any person who is 65
son is entitled to a tax exemption on the appraised value of
or older or is disabled is entitled to a local option exemp-
that portion of the person’s property consisting of freeport
tion on a portion of the appraised value of his residence
goods unless the school district taxes freeport goods (Tax
homestead if the district grants such an exemption. The
Code Section 11.251). The market value of the freeport
exemption amount is $3,000 of the appraised value of the
exemption should be included in Category L2 on Page 4.
residence homestead, unless a larger amount is specified
Report the number granted and value the district lost due
either by the governing body authorizing the exemption
to this exemption. (This item is deducted for school fund-
or by a favorable vote of a majority of the taxing unit’s
ing purposes.)
qualified voters (Tax Code Section 11.13[d] and [e]). To
Item 10. Total value lost to pollution control exemp-
calculate the maximum value allowed, add the number
tions. This section entitles a person to a tax exemption on
granted for those age 65 or older or disabled to the num-
all or part of real and personal property that the person
ber granted for the disabled, then multiply the number of
owns and that is used wholly or partly as a facility, de-
individuals granted this exemption times the exemption
vice or method to control air, water or land pollution (Tax
amount adopted. Please do not exceed this maximum
Code Section 11.31). Report the number granted and the
value. The number of local option exemptions granted
value your district lost due to this exemption. (This item is
must be equal to or less than the number of exemptions
deducted for school funding purposes.)
reported in Item 5. (If the number of local option exemp-
tions granted is higher, you may have included either the
Item 11. Total value lost to water conservation initiative
state-mandated $10,000 exemptions granted from Item 5
exemptions. A person is entitled to a tax exemption on
or the local optional percentage exemptions granted from
part or all of the value of the property on which approved
Item 7 in this number. If so, you may have included the
water conservation initiatives have been implemented
value loss as well.) Report the number granted for age 65
(Tax Code Section 11.32). Report the number granted and
or older, the number granted for the disabled and the val-
the value your district lost due to this exemption. (Not de-
ue the district lost due to this exemption. (Not deducted
ducted for school funding purposes.)
for school funding purposes.)
Item 12. Total value difference between productivity val-
Item 7. Total value lost to local option percentage home-
ue (1-d and 1-d-1) and market value of qualified acres.
stead exemptions. Each homeowner is entitled to a local
Productivity value measures the worth of land based on
option exemption on a portion of the appraised value of
its income-producing ability (Tax Code Sections 23.41,
his residence homestead if the district grants such an ex-
23.51 and 23.71). Many farm and ranch owners apply for
emption as provided by law (Tax Code Section 11.13[n]).
agricultural-use or open-space valuation (both are forms
The taxing unit adopts a percentage up to 20 percent, not
of productivity valuation). This is the difference between
a set dollar amount. If the percentage set by the voters
the market value and the productivity (taxable) value of
produces an exemption in a tax year of less than $5,000
all qualified land on Page 5 of the Acreage Breakdown of
when applied to a particular residence homestead, the in-
District. The total acres reported in this item should equal
dividual is entitled to an exemption of $5,000 of the ap-
the acres reported in Category D1 on Page 4. Report the
praised value. Report the number granted and the value
number of acres and the value the district lost due to agri-
the district lost due to this exemption. (Not deducted for
cultural and timber-use appraisals.
school funding purposes.)
Item 13. Total appraised value lost under the Property
Item 8. Total value lost to disabled or deceased veteran’s
Redevelopment and Tax Abatement Act (Chapter 312,
survivor(s) exemptions. A disabled veteran or a deceased
Tax Code). The owner of property subject to an abate-
veteran’s survivor(s) may be entitled to a tax exemption up
ment under this act is entitled to an exemption from taxa-
to $12,000 of the assessed value of a property he owns and
tion of all or part of the value of the property as provided
designates (Tax Code Section 11.22). The veteran may re-
by the agreement (Tax Code Section 11.28). This is the
ceive this exemption on only one property; that property
difference between the market value and the taxable value
must be the same for every taxing unit in which the indi-
of all the abatements granted in your district. Report the
vidual claims the exemption. To calculate the maximum
number granted and the value the district lost due to this
value allowed, multiply the number of individuals granted
exemption.
this exemption times $12,000. Please do not exceed this
6
Reports of Property Value Instructions
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