10/28/11

Today, Texas Attorney General Opinion No. GA-0890 (2011) was issued on "Whether a local board of realtors is a 'nonprofit community business organization' for purposes of section 11.231 of the Tax Code."

The Summary to the Opinion states,

"Under section 11.231, Texas Tax Code, an entity that is engaged primarily in performing one of the section's listed economic development functions, as determined by the chief tax appraiser, is a "nonprofit community business organization" that qualifies for the property tax exemption set forth in the section."

To read the opinion, click on the link below.

https://www.oag.state.tx.us/opinions/opinions/50abbott/op/2011/htm/ga-0890.htm