economy Economic Development

Post Abatement Property Valuation

Post abatement property valuation reporting is a series of three annual reports submitted to the Texas Comptroller of Public Accounts, with the first report submitted one year after the abatement’s expiration.

The purpose of the reports is to compare the valuation of a formerly abated property and to make sure the abatement was of value in bringing jobs and/or other economic development attractions that permanently increased property values rather than giving a temporary boost or resulting in a business that is willing to leave the community.

The reports compare the property values at the time the abatement agreement is executed with the property valuations for each of the three years following the abatement’s expiration.

Requirements for Delivering a Report on Appraised Value of Property with an Expired Abatement

The statutory requirements are:

• For each of the first three years following the expiration of a tax abatement agreement, the chief appraiser of each appraisal district delivers a report to the Comptroller's office containing the appraised value of the property that was subject to the agreement. To meet this requirement and to make sure that all property values are finalized, fill out form 50-278, and submit it to the Comptroller's office by Sept. 1 or the first business date thereafter if Sept. 1 falls on a weekend or a federal holiday.
• This report applies to all tax abatement agreements that expired on or after Sept. 1, 2019.

When and whether to file an Appraised Property Value Post Abatement Report (Form #50-278)

• Only use Form 50-278 to report information on expired abatements.
• Do not file the report, form 50-278, if:
  • the abatement expires before Sept. 1, 2019;
  • the taxing unit does not have any abatements; or
  • the abatement is canceled or terminated.
• For more information about form 50-278, read the FAQ.

Need Help?

For additional information, contact the Data Analysis and Transparency Division via email or at 844-519-5672, ext. 6-9231.

Disclaimer

This information should not be construed as, and is not a substitute for, legal advice.

Property owners and school districts are urged to consult the Attorney General's Economic Development Handbook and their own legal counsel for any questions or interpretations of economic development laws.