Tex.
Tax Code Section 311.006
Restrictions on Composition of Reinvestment Zone
(a)
A municipality may not designate a reinvestment zone if:(1)
more than 30 percent of the property in the proposed zone, excluding property that is publicly owned, is used for residential purposes; or(2)
the total appraised value of taxable real property in the proposed zone and in existing reinvestment zones exceeds:(A)
25 percent of the total appraised value of taxable real property in the municipality and in the industrial districts created by the municipality, if the municipality has a population of 100,000 or more; or(B)
50 percent of the total appraised value of taxable real property in the municipality and in the industrial districts created by the municipality, if the municipality has a population of less than 100,000.(b)
A municipality may not change the boundaries of an existing reinvestment zone to include property in excess of the restrictions on composition of a zone described by Subsection (a).(c)
Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1032, Sec. 21, eff. June 17, 2011.(d)
For purposes of this section, property is used for residential purposes if it is occupied by a house having fewer than five living units, and the appraised value is determined according to the most recent appraisal rolls of the municipality.(e)
Subsection (a)(1) does not apply to a reinvestment zone designated under Section 311.005 (Criteria for Reinvestment Zone)(a)(4).
Source:
Section 311.006 — Restrictions on Composition of Reinvestment Zone, https://statutes.capitol.texas.gov/Docs/TX/htm/TX.311.htm#311.006 (accessed Apr. 13, 2024).
