SB32 — Relating to an exemption from ad valorem taxation of a portion of the appraised value of tangible personal property that is held or used for the production of income and a franchise tax credit for the payment of certain related ad valorem taxes.

SB32 — Relating to an exemption from ad valorem taxation of a portion of the appraised value of tangible personal property that is held or used for the production of income and a franchise tax credit for the payment of certain related ad valorem taxes. · Informed CitizenrySB 32 proposes changes to property tax exemptions and franchise tax credits in Texas. The bill amends the Tax Code to provide a $25,000 exemption from ad valorem taxation for tangible personal prop…Open in Informed Citizenry