Texas Special District Local Laws Code 1035.301 – Imposition of Ad Valorem Tax
Current as of: 2024 | Check for updates
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(a) The board shall impose a tax on all property in the district subject to district taxation.
(b) The board shall impose the tax to:
(1) meet the requirements of district bonds;
(2) provide for the district’s maintenance and operating expenses;
(3) make improvements and additions to the district’s hospitals or hospital system; and
(4) acquire necessary sites by gift, purchase, lease, or condemnation.
Terms Used In Texas Special District Local Laws Code 1035.301
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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