(a) 
Definitions.
The following terms have the same meaning as defined in section 11.253 of the Texas Tax Code, as amended.
Dealer’s motor vehicle inventory, dealer’s vessel and outboard motor inventory, dealer’s heavy equipment inventory, and retail manufactured housing inventory.
Have the meanings assigned by subchapter B, chapter 23 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.
Location.
A physical address.
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;
(3) 
Used as a residence; and
(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:
(1)
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:
 
(A)
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;
 
(B)
Ownership of the stock entitles the owner to occupy a dwelling place owned by the corporation;
 
(C)
The dwelling place is a structure or a separately secured and occupied portion of a structure; and
 
(D)
The dwelling place is occupied as his principal residence by a stockholder who qualifies for the exemption.
(2)
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.
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:
(A) 
For life;
(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)