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Relating to the additional ad valorem tax and interest imposed as a result of a change in the use of certain land.
Passage of the bill would change the rollback period on which additional tax is owed if the use of certain restricted land changes to a non-qualifying use from five years to three years. As a result ad valorem tax revenue for school districts could be reduced and the related costs to the Foundation School Fund increased through the operation of the school finance formulas.
HB 3833 would change the rollback period on the additional tax owed from 5 years to 3 years if certain restricted land changes use to a non-qualifying use. The interest rate on the tax that would be imposed is also reduced from 7 percent to 5 percent.
Texas Action supports HB 3833 which uplifts our limited government and private property rights principles by reducing penalties associated with changing land use for the types of land affected by the bill.
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