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Summary: In Texas, land designated for agricultural use is exempt from property taxes. If the purpose of land is altered from agricultural use, the owner of that land must pay the back taxes owed on the land, plus interest. HB 1208 would apply to agricultural land that is being diverted from agricultural use as part of the sale of that land. HB 1208 would remove the requirement that interest be paid on the back taxes.
Analysis: HB 1208 would represent a limiting of government due to the lightening of the tax burden on these individuals. The back taxes, along with the interest, discourage potential buyers from purchasing new property and taking on that additional cost. HB 1208 would help address that concern