Bill Status of HB5865 100th General Assembly
Short Description: PROP TX-RENTAL HOUSING
Rep. Sara Feigenholtz
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Provides for a reduction in the equalized assessed value of rental property if the owner of the residential real property commits that, for a period of 10 years, at least 15% of the multifamily building's units will have rents that are at or below maximum rents and are occupied by households with household incomes at or below maximum income limits. Sets forth application requirements and the amount of the reduction. Provides that the chief county assessment officer of any county with 3,000,000 or more inhabitants shall, and the chief assessment officer of any county with less than 3,000,000 inhabitants may, make such reductions. Effective immediately.