Tex. Tax Code § 23.9803 — APPRAISAL OF QUALIFIED RESTRICTED-USE TIMBER LAND

(a) Except as provided by Subsection (b), the appraised value of qualified restricted-use timber land is one-half of the appraised value of the land as determined under Section 23.73 (a). (b) The appraised value determined under Subsection (a) may not exceed the lesser of: (1) the market value of the land as determined by other appraisal methods; or (2) the appraised value of the land for the year preceding the first year of appraisal under this subchapter. (c) The chief appraiser shall determine the market value of qualified restricted-use timber land and shall record both the market value and the appraised value in the appraisal records. Added by Acts 1999, 76th Leg., ch. 631, Sec. 5, eff. Jan. 1, 2000.