Texas HB5210 provides an exemption from ad valorem taxation for real property taxes that have been prepaid.

Texas HB5210 amends the Tax Code to exempt real property from ad valorem taxation if the property owner has prepaid the taxes. The exemption applies to real property that meets specific criteria, including being within a reinvestment zone and generating taxes for school districts. The comptroller determines an annual ad valorem tax prepayment rate and establishes a procedure for taxing units to request disbursements from a fund created to support these exemptions. The bill also amends the Government Code to define terms and procedures related to the exemption and fund disbursements.

Texas HB5210 provides an exemption from ad valorem taxation for real property taxes that have been prepaid.

Texas HB5210 amends the Tax Code to exempt real property from ad valorem taxation if the property owner has prepaid the taxes. The exemption applies to real property that meets specific criteria, including being within a reinvestment zone and generating taxes for school districts. The comptroller determines an annual ad valorem tax prepayment rate and establishes a procedure for taxing units to request disbursements from a fund created to support these exemptions. The bill also amends the Government Code to define terms and procedures related to the exemption and fund disbursements.