Sec. 89.003. RENDITION OF CERTAIN PERSONAL PROPERTY FOR AD VALOREM TAXATION. (a) Each association and each federal association shall render for ad valorem taxation all of its personal property, other than furniture, fixtures, equipment, and automobiles, as a whole at the value remaining after deducting the following from the total value of its entire assets:
(1) all debts that it owes;
(2) all tax-free securities that it owns;
(3) its loss reserves and surplus;
(4) its savings liability; and
(5) the appraised value of its furniture, fixtures, and real property.
(b) The association or federal association shall render the personal property, other than furniture, fixtures, equipment, and automobiles, to the chief appraiser of the appraisal district in the county in which its principal office is located.
(c) Furniture, fixtures, equipment, and automobiles of an association or federal association shall be rendered and valued for ad valorem taxation as provided by the Tax Code.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle B - Savings and Loan Associations
Chapter 89 - Miscellaneous Provisions Applicable to Savings and Loan Associations
Subchapter A. General Miscellaneous Provisions
Section 89.001. Applicability of Chapter 4, Business & Commerce Code
Section 89.002. Acknowledgment or Proof Taken by Member, Stockholder, or Employee of Association
Section 89.003. Rendition of Certain Personal Property for Ad Valorem Taxation
Section 89.004. Initiation of Rulemaking by Associations