Texas Statutes
Subchapter B. Exemptions
Section 11.1827. Community Land Trust

Sec. 11.1827. COMMUNITY LAND TRUST. (a) In this section, "community land trust" means a community land trust created or designated under Section 373B.002, Local Government Code.
(b) In addition to any other exemption to which the trust may be entitled, a community land trust is entitled to an exemption from taxation by a taxing unit of land owned by the trust, together with the housing units located on the land if they are owned by the trust, if:
(1) the trust:
(A) meets the requirements of a charitable organization provided by Sections 11.18(e) and (f);
(B) owns the land for the purpose of leasing the land and selling or leasing the housing units located on the land as provided by Chapter 373B, Local Government Code; and
(C) engages exclusively in the sale or lease of housing as described by Paragraph (B) and related activities, except that the trust may also engage in the development of low-income and moderate-income housing; and
(2) the exemption is adopted by the governing body of the taxing unit before July 1 in the manner provided by law for official action by the body.
(c) Property owned by a community land trust may not be exempted under Subsection (b) after the third anniversary of the date the trust acquires the property unless the trust is offering to sell or lease or is leasing the property as provided by Chapter 373B, Local Government Code.
(d) A community land trust entitled to an exemption from taxation by a taxing unit under Subsection (b) is also entitled to an exemption from taxation by the taxing unit of any real or tangible personal property the trust owns and uses in the administration of its acquisition, construction, repair, sale, or leasing of property. To qualify for an exemption under this subsection, property must be used exclusively by the trust, except that another person may use the property for activities incidental to the trust's use that benefit the beneficiaries of the trust.
(e) To receive an exemption under this section, a community land trust must annually have an audit prepared by an independent auditor. The audit must include:
(1) a detailed report on the trust's sources and uses of funds; and
(2) any other information required by the governing body of the municipality or county that created or designated the trust under Section 373B.002, Local Government Code.
(f) Not later than the 180th day after the last day of the community land trust's most recent fiscal year, the trust must deliver a copy of the audit required by Subsection (e) to:
(1) the governing body of the municipality or county or an entity designated by the governing body; and
(2) the chief appraiser of the appraisal district in which the property subject to the exemption is located.
Added by Acts 2011, 82nd Leg., R.S., Ch. 383 (S.B. 402), Sec. 2, eff. January 1, 2012.

Structure Texas Statutes

Texas Statutes

Tax Code

Title 1 - Property Tax Code

Subtitle C - Taxable Property and Exemptions

Chapter 11 - Taxable Property and Exemptions

Subchapter B. Exemptions

Section 11.11. Public Property

Section 11.111. Public Property Used to Provide Transitional Housing for Indigent Persons

Section 11.12. Federal Exemptions

Section 11.13. Residence Homestead

Section 11.131. Residence Homestead of 100 Percent or Totally Disabled Veteran

Section 11.132. Donated Residence Homestead of Partially Disabled Veteran

Section 11.133. Residence Homestead of Surviving Spouse of Member of Armed Services Killed in Line of Duty

Section 11.134. Residence Homestead of Surviving Spouse of First Responder Killed in Line of Duty

Section 11.135. Continuation of Residence Homestead Exemption While Replacement Structure Is Constructed; Sale of Property

Section 11.14. Tangible Personal Property Not Producing Income

Section 11.141. Precious Metal Held in Precious Metal Depository

Section 11.145. Income-Producing Tangible Personal Property Having Value of Less Than $2,500

Section 11.146. Mineral Interest Having Value of Less Than $500

Section 11.15. Family Supplies

Section 11.16. Farm Products

Section 11.161. Implements of Husbandry

Section 11.17. Cemeteries

Section 11.18. Charitable Organizations

Section 11.1801. Charity Care and Community Benefits Requirements for Charitable Hospital

Section 11.181. Charitable Organizations Improving Property for Low-Income Housing

Section 11.182. Community Housing Development Organizations Improving Property for Low-Income and Moderate-Income Housing: Property Previously Exempt

Section 11.1825. Organizations Constructing or Rehabilitating Low-Income Housing: Property Not Previously Exempt

Section 11.1826. Monitoring of Compliance With Low-Income and Moderate-Income Housing Exemptions

Section 11.1827. Community Land Trust

Section 11.183. Association Providing Assistance to Ambulatory Health Care Centers

Section 11.184. Organizations Engaged Primarily in Performing Charitable Functions

Section 11.185. Colonia Model Subdivision Program

Section 11.19. Youth Spiritual, Mental, and Physical Development Associations

Section 11.20. Religious Organizations

Section 11.201. Additional Tax on Sale of Certain Religious Organization Property

Section 11.21. Schools

Section 11.211. Real Property Leased to Certain Schools

Section 11.22. Disabled Veterans

Section 11.23. Miscellaneous Exemptions

Section 11.231. Nonprofit Community Business Organization Providing Economic Development Services to Local Community

Section 11.24. Historic Sites

Section 11.25. Marine Cargo Containers Used Exclusively in International Commerce

Section 11.251. Tangible Personal Property Exempt

Section 11.252. Motor Vehicles Leased for Use Other Than Production of Income

Section 11.253. Tangible Personal Property in Transit

Section 11.254. Motor Vehicle Used for Production of Income and for Personal Activities

Section 11.26. Limitation of School Tax on Homesteads of Elderly or Disabled

Section 11.261. Limitation of County, Municipal, or Junior College District Tax on Homesteads of Disabled and Elderly

Section 11.27. Solar and Wind-Powered Energy Devices

Section 11.271. Offshore Drilling Equipment Not in Use

Section 11.28. Property Exempted From City Taxation by Agreement

Section 11.29. Intracoastal Waterway Dredge Disposal Site

Section 11.30. Nonprofit Water Supply or Wastewater Service Corporation

Section 11.31. Pollution Control Property

Section 11.311. Landfill-Generated Gas Conversion Facilities

Section 11.315. Energy Storage System in Nonattainment Area

Section 11.32. Certain Water Conservation Initiatives

Section 11.33. Raw Cocoa and Green Coffee Held in Harris County

Section 11.34. Limitation of Taxes on Real Property in Designated Areas of Certain Municipalities

Section 11.35. Temporary Exemption for Qualified Property Damaged by Disaster