19 Tex. Admin. Code § 61.1015 - Property Value Adjustments Due to Taxpayer Protests
(a) A school district is eligible for a
property value adjustment if a major taxpayer fails to pay all or a portion of
its ad valorem taxes because of a protest regarding the valuation of its
property.
(1) A taxpayer is considered
"major" if the amount protested contributes 5.0% or more to the tax collections
of the school district.
(2) To be
eligible for the adjustment, the district must have a Maintenance and
Operations (M&O) tax rate that equals or exceeds the M&O tax rate in
the prior year.
(b) The
commissioner of education shall grant the adjustment at his or her discretion.
If granted, the tax base of the eligible district shall be reduced by 100% of
the protested value for the purpose of temporarily increasing the state aid
payment to the district.
(c) When
the protest has been resolved, the district must submit the results of the
settlement to the commissioner within 30 days. An appropriate form shall be
supplied by the commissioner to be completed by the district documenting the
results of the protest and verified by the signature of the chief
appraiser.
(d) Recovery of state
aid overpayment or collection of insufficient recapture amounts due from the
district as a result of the settlement shall be made by means of offsetting
adjustments to current or subsequent year state aid or recapture amounts. These
amounts must be repaid no later than two years after the year in which the
adjustment was initially made.
Notes
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