Statutory tax districts are specially designated areas within which local governments can levy taxes to fund specific public services and infrastructure projects. These districts are established by legislation and can include mechanisms for tax collection, allocation, and regulation to ensure the targeted use of the generated funds.
(c) STATUTORY TAX DISTRICTS. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and Purchaser to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this Agreement.
(3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract.
A Statutory Tax District is a legally defined geographic area within which certain taxes are levied by a governing authority. These districts are established by law, and their purpose is typically to fund specific public services or infrastructure projects. Examples of statutory tax districts include school districts, water districts, and fire protection districts. The taxes collected within these districts are used exclusively for the designated services.
Example: A school district that levies a property tax to fund local schools.
You should consider using a Statutory Tax District when:
Example: Creating a fire protection district to fund firefighting services within a rural community.
When writing about or establishing a Statutory Tax District, follow these steps:
Example: Drafting a resolution to establish a water district within a municipality, including the specific tax rates and geographic boundaries.
Contracts that typically contain references to or provisions for Statutory Tax Districts include:
Example: A public-private partnership contract for constructing a new recreational facility funded by a newly created park district.
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