(a) Definitions.
The following terms have
the same meaning as defined in section 11.253 of the Texas Tax Code,
as amended.
Goods in transit.
Tangible personal property that:
(1)
Is acquired in or imported into this state to
be forwarded to another location in this state or outside this state;
(2)
Is detained at a location in this state in which
the owner of the property does not have a direct or indirect ownership
interest for assembling, storing, manufacturing, processing, or fabricating
purposes by the person who acquired or imported the property;
(3)
Is transported to another location in this state
or outside this state not later than 175 days after the date the person
acquired the property in or imported the property into this state;
and
(4)
Does not include oil, natural gas, petroleum products,
aircraft, dealer’s motor vehicle inventory, dealer’s vessel
and outboard motor inventory, dealer’s heavy equipment inventory,
or retail manufactured housing inventory.
Petroleum product.
A liquid or gaseous material that is an immediate derivative
of the refining of oil or natural gas.
(b) A person is not entitled to an exemption from taxation
of the appraised value of that portion of the person’s property
that consists of good in transit. A person’s property consisting
of goods in transit is hereby subject to ad valorem taxation pursuant
to section 11.253 of the Texas Tax Code, as amended.
(Ordinance 111101-1 adopted 11/1/11)
When used herein, the following terms mean:
Disabled.
Under a disability for purposes of payment of disability
insurance benefits udder Federal Old-Age, Survivors, and Disability
Insurance.
Residence homestead.
A structure (including a mobile home) or a separately secured
and occupied portion of a structure (together with the land, not to
exceed 20 acres, and improvements used in the residential occupancy
of the structure, if the structure and the land and improvements have
identical ownership) that is:
(1)
Owned by one or more individuals, either directly
or through a beneficial interest in a qualifying trust;
(2)
Designed or adapted for human residence;
(4)
Occupied as his principal residence by an owner or, for property
owned through a beneficial interest in a qualifying trust, by a trust
or of the trust who qualifies for the exemption.
May also consist of:
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(1)
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An interest in real property created through ownership of stock
in a corporation incorporated under the Cooperative Association Act
(Article 1396-50.01, Vernon’s Texas Civil Statutes) to provide
dwelling places to its stockholders if:
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(A)
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The interests of the stockholders of the corporation are appraised
separately as provided by section 23.19 of the Texas Tax Code in the
tax year to which the exemption applies;
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(B)
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Ownership of the stock entitles the owner to occupy a dwelling
place owned by the corporation;
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(C)
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The dwelling place is a structure or a separately secured and
occupied portion of a structure; and
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(D)
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The dwelling place is occupied as his principal residence by
a stockholder who qualifies for the exemption.
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(2)
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Exemption under this section for a homestead described by subsection
(1)(B) of this subsection extends only to the dwelling place occupied
as a residence homestead and to a portion of the total common area
used in the residential occupancy that is equal to the percentage
of the total amount of the stock issued by the corporation that is
owned by the homestead claimant. The size of a residence homestead
under subsection (1)(B) of this section, including any relevant portion
of common area, may not exceed 20 acres.
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Qualifying trust.
A trust:
(1)
In which the agreement or will creating the trust
provides that the trustor of the trust has the right to use and occupy
as the trustor’s principal residence residential property rent
free and without charge except for taxes and other costs and expenses
specified in the instrument:
(B)
For the lesser of life or a term of years; or
(C)
Until the date the trust is revoked or terminated
by an instrument that describes the property with sufficient certainty
to identify it and is recorded in the real property records of the
county in which the property is located; and
(2)
That acquires the property in an instrument of
title that:
(A)
Describes the property with sufficient certainty
to identify it and the interest acquired;
(B)
Is recorded in the real property records of the
county in which the property is located; and
(C)
Is executed by the trustor or the personal representative
of the trustor.
Trustor.
A person who transfers an interest in residential property
to a qualifying trust, whether by deed or by will, or the person’s
spouse.
(Ordinance 070918-5, sec. 1, adopted 9/18/07)
(a) Upon compliance with all the requirements of this article
and the Texas Tax Code, thirty-five thousand and no/100 dollars ($35,000.00)
of the assessed value of the residence homestead of persons sixty-five
years of age or older and disabled persons shall be exempt from ad
valorem taxes levied by the city.
(b) The surviving spouse of an individual who qualifies for an exemption under subsection
(a) for the residence homestead of a person 65 or older or a disabled person is entitled to an exemption for the same property from the same taxing unit in an amount equal to that of the exemption for which the deceased spouse qualified if:
(1) The deceased spouse died in a year in which the deceased
spouse qualified for the exemption;
(2) The surviving spouse was 55 or older when the deceased
spouse died; and
(3) The property was the residence homestead of the surviving
spouse when the deceased spouse died and remains the residence homestead
of the surviving spouse.
(Ordinance 070918-5, sec. 2, adopted 9/18/07)
(a) Notwithstanding section
20.02.032 above, the exemption granted herein, together with all other exemptions from taxation by the city, shall not exceed $35,000.00 of the assessed value of a residence homestead.
(b) If two or more persons are married or are joint owners
of a residence homestead, only one exemption will be allowed. Joint,
community, or successive owners may not each receive the same exemption
provided by or pursuant to this article for the same residence homestead
in the same year.
(c) An eligible disabled person who is 65 or older may
not receive both a disabled exemption and an elderly exemption, but
may choose either.
(d) A person may not receive an exemption under this article
for more than one residence homestead in the same year.
(e) If a person entitled to an exemption under this article
rents a portion of the structure to another or uses the structure
for purposes that are incompatible with the residential use, the exemption
is not lost, but the amount of the exemption shall not apply to the
value of that portion of the structure.
(Ordinance 070918-5, sec. 3, adopted 9/18/07)
The first day of January of each tax year shall be the determinative
date for eligibility for the exemption granted by this article. There
shall be no proration of the exemption provided for in this article
for any taxable year either in the event of qualification or disqualification
of either any applicable person or property for such exemption after
the first day of January of the applicable year.
(Ordinance 070918-5, sec. 4, adopted 9/18/07)
The exemption granted by this article shall be effective as
to such residence homesteads as may qualify commencing with the 2008
tax year.
(Ordinance 070918-5, sec. 5, adopted 9/18/07)