The property valuation limitation (limitation) amount and the minimum qualified investment (investment)
amount in Edinburg CISD's agreement were lower than the statutory minimums.
The property valuation limitation amount caps the property value for the business's maintenance and operations property taxes owed to the ISD.
Edinburg CISD's agreement did not set the correct limitation amount of at least $30 million as required by Texas Tax Code, Section 313.054.
Instead, the agreement set the limitation amount at $25 million. As a result, the business's property tax liability was reduced by a greater
amount than allowed by statute.
A minimum qualified investment amount is the amount that the applicant must invest within the agreement's qualified time period.
Edinburg CISD did not ensure that the agreement established an investment amount of at least $30 million, as required by Texas Tax Code,
Section 313.053. Instead, the agreement set the investment amount at $25 million.
Edinburg CISD verified that the agreement included other required provisions.
Jump to Chapter 2-A