Texas SB479 amends the definition of "eligible school district" and modifies the calculation of taxable value for school districts.

Texas SB479 amends the definition of "eligible school district" to include districts where the local value is invalid and does not exceed the state value. It also modifies the calculation of taxable value for school districts, defining it as the market value of all taxable property less certain exemptions and adjustments. The bill specifies conditions for property within reinvestment zones and eligible for tax increment financing. It further details the conditions under which the comptroller may use a margin of error in determining taxable value.

Texas SB479 amends the definition of "eligible school district" and modifies the calculation of taxable value for school districts.

Texas SB479 amends the definition of "eligible school district" to include districts where the local value is invalid and does not exceed the state value. It also modifies the calculation of taxable value for school districts, defining it as the market value of all taxable property less certain exemptions and adjustments. The bill specifies conditions for property within reinvestment zones and eligible for tax increment financing. It further details the conditions under which the comptroller may use a margin of error in determining taxable value.