Texas SB850 amends the Tax Code to establish procedures for ad valorem tax refunds, including timelines and interest accrual.

Texas SB850 amends the Tax Code to set specific timelines for ad valorem tax refunds. It mandates that refunds be made within 60 days of certain events, such as the final determination of an appeal or the approval of a late homestead exemption. The bill also specifies that if a refund is not made within the required period, interest accrues at a rate of 12 percent. Additionally, it allows taxpayers to file suit for refunds and awards court costs and attorney's fees if the suit is successful and filed after 60 days from the final appeal determination.

Texas SB850 amends the Tax Code to establish procedures for ad valorem tax refunds, including timelines and interest accrual.

Texas SB850 amends the Tax Code to set specific timelines for ad valorem tax refunds. It mandates that refunds be made within 60 days of certain events, such as the final determination of an appeal or the approval of a late homestead exemption. The bill also specifies that if a refund is not made within the required period, interest accrues at a rate of 12 percent. Additionally, it allows taxpayers to file suit for refunds and awards court costs and attorney's fees if the suit is successful and filed after 60 days from the final appeal determination.