The state values all utility operating property, and the counties assess all other property, using the unitary valuation approach. The primary valuation method used is the cost method. Taxable values may not exceed 35 percent of cash true value. Texas All Texas real and personal property is taxable. However, intangible personal property is exempt from taxation.
Localities impose the tax.
The state may not impose an ad valorem tax. Assessments are at 100 percent of the value appraised by county assessors. The primary valuation method varies by county. There is no unitary valuation. Reappraisal must occur at least once every three years.