Tex. Spec. Dist. Local Laws Code Section 3805.255
Payment in Lieu of Taxes to Other Taxing Unit

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 in lieu of taxes, an amount equal to the ad valorem taxes that otherwise would have been levied for the preceding tax year on that real property by the taxing unit, without including the value of any improvements constructed on the property.
Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 18.003(g), eff. September 1, 2005.

Source: Section 3805.255 — Payment in Lieu of Taxes to Other Taxing Unit, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3805.­htm#3805.­255 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 3805.255’s source at texas​.gov