Sec. 1471.059. ADJUSTMENT OF VALUES FOLLOWING REASSESSMENT. (a) In making a reassessment under Section 1471.058(b), the road district shall assess the property using the property's market value for the year preceding the year in which the bonds or certificates are issued.
(b) The district shall proportionately reduce the assessment of the other property in the district to reflect the value of the reassessed property. The district shall refund to a property owner the difference between the amount of the original assessment and a new assessment under this subsection if the property owner has paid the entire amount of the original assessment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1471 - Bonds for County Roads
Subchapter C. Refinancing Road District Bonds Through Assessments
Section 1471.051. Alternate Refunding Bonds and Certificates of Assessment Authorized
Section 1471.052. Assessment as Security
Section 1471.054. Preparation of Assessment
Section 1471.055. Notice of Hearing
Section 1471.056. Imposition of Assessment
Section 1471.057. Appeal of Assessment
Section 1471.058. Reassessment
Section 1471.059. Adjustment of Values Following Reassessment
Section 1471.060. Lien for Unpaid Assessment