Sec. 3846.265. DEVELOPMENT ZONE PROPERTY TAX. (a) If approved at an election by a majority of the voters in the development zone voting in an election held for that purpose, the governing body may authorize a tax on all taxable property in a development zone created wholly or partly in the boundaries of East Montgomery County Utility District No. 5, 6, or 7, or Valley Ranch Municipal Utility District No. 1 at a rate not to exceed 10 cents on each $100 valuation as determined by the Montgomery County Appraisal District.
(b) The election may be held in conjunction with the confirmation election held under Section 3846.257.
Added by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 21.036, eff. September 1, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3846 - East Montgomery County Improvement District
Subchapter F. Economic Development Zones
Section 3846.252. Nature of Development Zone
Section 3846.253. Development Zones Authorized
Section 3846.254. Preliminary Financing Plan Required
Section 3846.255. Restriction on Development Zone in Residential Area
Section 3846.256. Resolution Required
Section 3846.257. Confirmation Election Required
Section 3846.258. Development Zone Governing Body
Section 3846.259. Organizational Meeting of Development Zone Governing Body; Officers
Section 3846.260. Development Zone Boundaries
Section 3846.261. Project Plan and Development Zone Financing Plan Required
Section 3846.262. Financing and Implementation of Development Zone Project Plan
Section 3846.263. Agreements to Implement Plans