Texas Local Government Code 379H.151 – Tax Exempt Status of Land Bank Property
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Local Government Code 379H.151
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
The real property of a land bank, including real property held by a land bank under a long-term lease contract with a community land trust, and the land bank’s income and operations are exempt as public property used for public purposes from all license fees, recording fees, and all other taxes imposed by this state or by political subdivisions of this state.