Texas SB773 amends the Tax Code to exempt certain charitable organizations from ad valorem taxation on specific real property.

Texas SB773 amends the Tax Code to provide an exemption from ad valorem taxation for certain charitable organizations. The bill specifies that these organizations are exempt from taxation on buildings and tangible personal property they own and use exclusively for charitable purposes. It also exempts real property under active construction or preparation for use by these organizations, as well as land necessary for such improvements.

Texas SB773 amends the Tax Code to exempt certain charitable organizations from ad valorem taxation on specific real property.

Texas SB773 amends the Tax Code to provide an exemption from ad valorem taxation for certain charitable organizations. The bill specifies that these organizations are exempt from taxation on buildings and tangible personal property they own and use exclusively for charitable purposes. It also exempts real property under active construction or preparation for use by these organizations, as well as land necessary for such improvements.