Fillable Application for Constructing or Rehabilitating Low-Income Housing Property (Bexar Appraisal District)

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Application for Constructing or Rehabilitating Low-Income Housing Property (Bexar Appraisal District)

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Texas Comptroller of Public Accounts
Form
50-310
The Property Tax Assistance Division at the Texas Comptroller of Public Accounts provides property tax
information and resources for taxpayers, local taxing entities, appraisal districts and appraisal review boards.
For more information, visit our website:
comptroller.texas.gov/taxes/property-tax
50-310 • 05-17/8
Application for Constructing or Rehabilitating
Low-Income Housing Property Tax Exemption
____________________________________________________________________ _____________________________
Appraisal District’s Name Phone (area code and number)
_____________________________________ ________________ ________________ __________ ____________
Address City County State Zip Code
GENERAL INSTRUCTIONS: This application is for use in claiming exemptions pursuant to Tax Code Section 11.1825 and pre-acquisition, preliminary
determinations of qualication for such exemptions pursuant to Tax Code Section 11.436(c).
FILING INSTRUCTIONS: You must furnish all information and documentation required by this application so that the chief appraiser is able to determine
whether the statutory qualications for the exemption have been met. This document and all supporting documentation must be led with the appraisal
district office in each county in which the property is located. Do not le this document with the Texas Comptroller of Public Accounts. A directory with
contact information for appraisal district offices may be found on the Comptroller’s website.
APPLICATION DEADLINES: Generally, the completed application and required documentation must be led between Jan. 1 and no later than April
30 of the year for which an exemption is requested. Pursuant to Tax Code Section 11.436(a), an organization that acquires property that qualies for
an exemption under Tax Code Section 11.1825 may apply for the exemption for the year of acquisition not later than the 30th day after the date the
organization acquires the property. The deadline provided by Tax Code Section 11.43(d) does not apply to the application for that year. If an application led
pursuant to Tax Code Section 11.436(a) is granted, the exemption for that year applies only to the portion of the year in which the property qualies for the
exemption as provided by Tax Code Section 26.111. A new application must be led each year an exemption is claimed.
PRELIMINARY DETERMINATION APPLICATIONS: To facilitate the nancing associated with the acquisition of a property, Tax Code Section 11.436(c)
allows an organization, before acquiring the property, to request from the chief appraiser of the appraisal district established for the county in which the
property is located a preliminary determination of whether the property would qualify for an exemption under Tax Code Section 11.1825 if acquired by the
organization. The request must include the information that would be included in an application for an exemption for the property under Tax Code Section
11.1825. Not later than the 45th day after the date a request is submitted under Tax Code Section 11.436(c), the chief appraiser shall issue a written preliminary
determination for the property included in the request. A preliminary determination does not affect the granting of an exemption under Section 11.1825.
OTHER IMPORTANT INFORMATION
Pursuant to Tax Code Section 11.45, after considering this application and all relevant information, the chief appraiser may request additional information
from you. You must provide the additional information within 30 days of the request or the application is denied. For good cause shown, the chief appraiser
may extend the deadline for furnishing the additional information by written order for a single period not to exceed 15 days.
STEP 1: State Whether an Exemption or Preliminary Determination is Sought
Exemption
Preliminary Determination
STEP 2: State the Year for Which Exemption or Preliminary Determination is Sought
_________________________________________________ ________________________________________________
Exemption Preliminary Determination
STEP 3: Provide Name and Mailing Address of Property Owner and Identity of Person Preparing Application
_________________________________________________________________________ ________________________
Name of Property Owner Phone (area code and number)
________________________________________________ _______________________ __________ ____________
Mailing Address City State Zip Code
Property Owner is a (check one):
Partnership
Corporation
Other (specify): ________________________________________________________
_____________________________________ __________________________________ ________________________
Name of Person Preparing this Application Title Driver’s License, Personal I.D. Certicate
or Social Security Number*
BEXAR APPRAISAL DISTRICT
210-224-2432
PO BOX 830248
SAN ANTONIO
BEXAR
TEXAS
78283-0248
Texas Comptroller of Public Accounts
Form
50-310
For more information, visit our website: comptroller.texas.gov/taxes/prop ert y-tax
Page 2
50-310 • 05-17/8
STEP 3: Provide Name and Mailing Address of Property Owner and Identity of Person Preparing Application (continued)
If this application is for an exemption from ad valorem taxation of property owned by a charitable
organization with a federal tax identication number, that number may be provided here in lieu of
a driver’s license number, personal identication certicate number or social security number:
.......... ____________________________
* Unless the applicant is a charitable organization with a federal tax identication number, the applicant’s driver’s license number, personal identication certicate number
or social security account number is required. Pursuant to Tax Code Section 11.48(a), a driver’s license number, personal identication certicate number or social security
account number provided in an application for an exemption led with a chief appraiser is condential and not open to public inspection. The information may not be disclosed
to anyone other than an employee of the appraisal office who appraises property, except as authorized by Tax Code Section 11.48(b). If the applicant is a charitable organization
with a federal tax identication number, the applicant may provide the organization’s federal tax identication number in lieu of a driver’s license number, personal identication
certicate number or social security account number.
STEP 4: Identify the Property
1. Provide the property’s legal description.
2.
What is the appraisal district account number (if known)? .................................... ____________________________
3. What is the property address?
________________________________________________ _______________________ __________ ____________
Address City State Zip Code
STEP 5: Identify Qualifying Organization
To receive an exemption under Tax Code Section 11.1825, either the property owner or one of two other entities must meet the requirements set forth in
Tax Code Section 11.1825(b).
Pursuant to Tax Code Section 11.1825(c), property may qualify for an exemption under Tax Code Section 11.1825 if the property owner does not meet the
requirements of Tax Code Section 11.1825(b) if the property otherwise qualies for the exemption and the owner is:
(1) a limited partnership of which an organization that meets the requirements of Tax Code Section 11.1825(b) controls 100 percent of the general partner
interest, is organized under the laws of Texas and has its principal place of business in Texas; or
(2) an entity the parent of which is an organization that meets the requirements of Tax Code Section 11.1825(b), is organized under the laws of Texas and
has its principal place of business in Texas.
For purposes of this application, the term qualifying organization refers to the organization (property owner or other entity described by Tax
Code Section 11.1825(c) that meets the Tax Code Section 11.1825(b) requirements:
(1) for at least the preceding three years, the organization:
(A) has been exempt from federal income taxation under Section 501(a), Internal Revenue Code of 1986, as amended, by being listed as an exempt
entity under Section 501(c)(3) of that code;
(B) has met the requirements of a charitable organization provided by Tax Code Section 11.18(e) and (f); and
(C) has had as one of its purposes providing low-income housing;
(2) a majority of the members of the board of directors of the organization have their principal place of residence in this state;
(3) at least two of the positions on the board of directors of the organization must be reserved for and held by:
(A) an individual of low income as dened by Government Code Section 2306.004, whose principal place of residence is located in this state;
(B) an individual whose residence is located in an economically disadvantaged census tract as dened by Government Code Section 783.009(b) in
this state; or
(C) a representative appointed by a neighborhood organization in this state that represents low-income households; and
(4) the organization must have a formal policy containing procedures for giving notice to and receiving advice from low-income households residing in the
county in which a housing project is located regarding the design, siting, development and management of affordable housing projects.
Does the property owner identied in Step 3, above, meet the requirements of Tax Code Section 11.1825(b)?
.................
Yes
No
Note: If you answered yes, the property owner is the qualifying organization for purposes of the remainder of this application and you may skip
to Step 6. If you answered no, the property owner is not the qualifying organization for purposes of the remainder of this application and you
must provide the following information before proceeding to step 6.
Texas Comptroller of Public Accounts
Form
50-310
For more information, visit our website: comptroller.texas.gov/taxes/prop ert y-tax
Page 3
50-310 • 05-17/8
STEP 5: Identify Qualifying Organization (continued)
If the property owner identied in step 3, above, does not meet the requirements of Tax Code Section 11.1825(b), please identify the qualifying organization
pursuant to Tax Code Section 11.1825(c):
_________________________________________________________________________ ________________________
Name of Qualifying Organization Phone (area code and number)
________________________________________________ _______________________ __________ ____________
Mailing Address City State Zip Code
Is the qualifying organization identied above organized under the laws of Texas? .......................................
Yes
No
Does the qualifying organization identied above have its principal place of business in Texas?.............................
Yes
No
Pursuant to Tax Code Section 11.1825(c)(1), is the property owner a limited partnership of which the qualifying organization
identied above controls 100 percent of the general partner interest?
.................................................
Yes
No
If yes, please attach organizational documents supporting your answer.
Pursuant to Tax Code Section 11.1825(c)(2), is the qualifying organization the parent of the property owner?
..................
Yes
No
If yes, please attach organizational documents supporting your answer.
STEP 6: Provide Information Regarding Qualifying Organization (Identied in Step 5)
1. Is the organization engaged primarily in public charitable functions? ...............................................
Yes
No
If yes, using an attachment, describe the organization’s activities in a narrative. The narrative description of activities
should be thorough, accurate and include date-specic references to the tax year for which the exemption is sought.
You may also attach representative copies of newsletters, brochures or similar documents for supporting details to this
narrative.
2. Is the organization organized exclusively to perform religious, charitable, scientic, literary or educational purposes? . . . . . . . . .
Yes
No
If yes, attach copies of organizational documents supporting your answer.
STEP 7: Answer the Following Questions About the Organization
For the preceding three years (note years) ___________________, answer these questions:
1. Has the organization been exempt from federal income taxation under Section 501(a), Internal Revenue Code of 1986,
as amended, as an exempt entity under Section 501(c)(3) of that Code?............................................
Yes
No
2.
Has the organization operated, or does its charter permit it to operate, in a manner that permits the accrual of prots or
distribution of any form of private gain? If yes, explain on a separate attached page....................................
Yes
No
3. Has the organization used its assets in providing low-income housing? .............................................
Yes
No
4.
In the past year has the organization loaned funds to, borrowed funds from, sold property to or bought property from a shareholder,
director or member of the organization or has a shareholder or member sold his interest in the organization for a prot? ......
Yes
No
If yes, attach a description of each transaction. For sales, give buyer, seller, price paid, value of the property sold and date
of sale. For loans, give lender, borrower, amount borrowed, interest rate and term of loan. Attach a copy of note, if any.
5. Attach a list of salaries and other compensation for services paid in the last year. List any funds distributed to members,
shareholders or directors in the last year. In each case, give recipient’s name, type of service rendered or reason for
payment and amounts paid.
Answer these questions about the board of directors:
1. Does a majority of the members of the organization’s board of directors of the organization have their principal place of
residence in Texas?
Attach a list of the board members and their principal places of residence.
2. Do two or more directors on the board whose principal place of residence is located in Texas meet one of the following
requirements: an individual of low income as dened by Government Code Section 2306.004; an individual whose residence
is located in an economically disadvantaged census tract in Texas, as dened by Government Code Section 783.009(b); or an
individual who is a representative appointed by a neighborhood organization in Texas that represents low-income households?
Note on attached list of board members those directors that meet one of these provisions and indicate which provisions.
Texas Comptroller of Public Accounts
Form
50-310
For more information, visit our website: comptroller.texas.gov/taxes/prop ert y-tax
Page 4
50-310 • 05-17/8
STEP 7: Answer the Following Questions About the Organization (continued)
Answer these questions about policies, bylaws or charter:
1. Does the organization have a formal policy containing procedures for giving notice to and receiving advice from low-income
households residing in the county in which a housing project is located regarding the design, siting, development and
management of affordable housing projects?
..................................................................
Yes
No
If yes, attach a copy of the formal policy.
2. Does the organization perform, or does its charter permit it to perform, any functions other than those of providing
low-income housing? ....................................................................................
Yes
No
If yes, attach a statement describing the other functions in detail.
3. Do the bylaws or charter direct that on the discontinuance of the organization the organization’s assets are to be transferred
to the State of Texas, the United States or an educational, religious, charitable or other similar organization that is qualied
for exemption under Section 501(c)(3), Internal Revenue Code, as amended?
.......................................
Yes
No
If yes, give the page and paragraph numbers.
.................................................. Page ______ Paragraph ______
If no, do these documents direct that on discontinuance of the organization the organization’s assets are to be transferred
to members who have promised in their membership applications to immediately transfer them to the State of Texas, the
United States or an educational, religious, charitable or other similar organization that is qualied for exemption under
Section 501(c)(3), Internal Revenue Code, as amended?
......................................................
Yes
No
If yes, give the page and paragraph numbers.
.................................................. Page ______ Paragraph ______
If yes, was the two-step transfer required for the organization to qualify for exemption under Section 501(c)(12),
Internal Revenue Code, as amended?.....................................................................
Yes
No
STEP 8: Provide Information About the Use of the Property
1. Does the organization currently rent or sell or plan to rent or sell dwelling units in this building to individuals or families?
If so, attach rent schedule. ................................................................................
Yes
No
2. Questions regarding renting dwelling units:
Do/will the individuals and families have a median income that is not more than 60 percent of either the area or statewide
median family income? (Complete A or B):
.................................................................
Yes
No
A. Area median family income for the household’s place of residence, as adjusted for family size and as established
by the U.S. Department of Housing and Urban Development (HUD), which is
............................. $ _____________,
OR
B. Statewide area median family income, as adjusted for family size and as established by HUD, which is ......... $ _____________.
What is the annual total of the monthly rent charged or to be charged for each dwelling unit in this building that is reserved
for an individual or family?
.............................................................................. $ __________ /year
Will the organization be renting or offering to rent the applicable square footage of dwelling units in this building to qualied
individuals and families by the third anniversary of the date the organization acquired this property?
....................
Yes
No
3. Questions regarding selling dwelling units:
Do/will the individuals and families have a median income that is below either the area or statewide median family income?
(Complete A or B):
....................................................................................
Yes
No
A. Area median family income for the household’s place of residence, as adjusted for family size and as established
by HUD, which is
............................................................................. $ _____________,
OR
B. Statewide area median family income, as adjusted for family size and as established by HUD, which is ......... $ _____________.
4.
How many dwelling units does/will the above described property have? ............................................ __________ units
5.
What percentage of the total square footage of the dwelling units in this building described above are/will be reserved for
individuals or families noted in question 1 above?
.............................................................. ____________ %
Texas Comptroller of Public Accounts
Form
50-310
For more information, visit our website: comptroller.texas.gov/taxes/prop ert y-tax
Page 5
50-310 • 05-17/8
STEP 9: Provide Information Regarding Audit
Pursuant to Tax Code Section 11.1826, property may not be exempted under Tax Code Section 11.1825 for a tax year unless the organization owning or
controlling the property owner has an audit prepared by an independent auditor covering the organization’s most recent scal year.
The audit must include an opinion on whether:
(1) the nancial statements of the organization present fairly, in all material respects and in conformity with generally accepted accounting principles,
the nancial position, changes in net assets and cash ows of the organization; and
(2) the organization has complied with all of the terms and conditions of the exemption under Tax Code Section 11.1825.
Not later than the 180th day after the last day of the organization’s most recent scal year, the organization must deliver a copy of the audit to the Texas
Department of Housing and Community Affairs and the chief appraiser of the appraisal district in which the property is located.
If the property contains not more than 36 dwelling units, the organization may deliver to the Texas Department of Housing and Community Affairs and the
chief appraiser a detailed report and certication as an alternative to an audit.
1. Did the organization timely deliver the required audit or report and certication, as applicable, to the Texas Department of
Housing and Community Affairs? ...........................................................................
Yes
No
If no, attach a statement explaining your answer.
2. Did the organization timely deliver the required audit or report and certication, as applicable, to the appraisal district? .......
Yes
No
If no, attach a statement explaining your answer.
STEP 10: Provide Property Specic Information
If the property is under construction or rehabilitation:
• Attach a Schedule A (CONSTRUCTING) form for each parcel of land and each building of real property to be exempt for constructing low-income
housing.
• Attach a Schedule B (REHABILITATING) form for each parcel of land and building to be exempt for rehabilitating low-income housing.
If the property’s construction or rehabilitation is complete and this application is led annually as required by Tax Code Section 11.43(b) to maintain a
previously granted exemption, skip to step 11.
STEP 11: Read, Sign and Date
By signing this application, you certify that the information provided is true and correct.
____________________________________________________________
On Behalf of (name of property owner)
_____________________________________________________ ____________________________________
Printed Name of Person Authorized to File Application Title
_____________________________________________________ ____________________________________
Authorized Signature Date
If you make a false statement on this form, you could be found guilty of a Class A misdemeanor or a state jail felony under Penal Code
Section 37.10.
click to sign
signature
click to edit
Texas Comptroller of Public Accounts
Form
50-310
For more information, visit our website: comptroller.texas.gov/taxes/prop ert y-tax
Page 6
50-310 • 05-17/8
Schedule A: Constructing Low-Income Housing
Complete one Schedule A form for EACH land parcel of improved (with building) and unimproved real property qualied for exemption. Attach all completed
schedules to your application for exemption.
___________________________________________________________________________________________________
Name of Property Owner
________________________________________________ _______________________ __________ ____________
Property Address City State Zip Code
___________________________________________________________________________________________________
Describe the Primary Use of the Property
Date of acquisition of property: ____________
Is this property reasonably necessary for operation of the organization?
Yes
No
Answer These Questions About the Property Listed Above
If this is a preliminary determination of exemption, when the nal application is led is
this property expected to be under active construction or physical preparation? .............
Active Construction
Physical Preparation
If this is a nal determination of exemption, is this property under active construction or
physical preparation?
...........................................................
Active Construction
Physical Preparation
If active construction, when will construction be completed?
.............................
____________
If physical preparation, what has been done?
Physical preparation is when the organization has engaged in architectural or engineering work, soil testing, land clearing activities or site improvement
work necessary for constructing the project or has conducted an environmental or land use study for construction of the project.
Texas Comptroller of Public Accounts
Form
50-310
For more information, visit our website: comptroller.texas.gov/taxes/prop ert y-tax
Page 7
50-310 • 05-17/8
Schedule B: Rehabilitating Buildings for Low-Income Housing
Complete one Schedule B form for EACH building and land qualied for exemption. Attach all completed schedules to your application for exemption.
___________________________________________________________________________________________________
Name of Property Owner
____________________________________ _____________ ____________________ __________ ____________
Address Building City State Zip Code
___________________________________________________________________________________________________
Describe the Primary Use of the Property
Date of acquisition of property: ____________
Is this property reasonably necessary for operation of the organization?
Yes
No
Answer These Questions About the Property Listed Above
1. When did actual rehabilitation of this property begin or when is it expected to begin? .................................. ____________
2. When will rehabilitation of this property be completed?.
......................................................... ____________
3. When was the original construction of this housing project completed? ............................................. ____________
4. If the organization acquired this property from another person/organization, how long did the person/organization
own the property?
....................................................................................... _________ years
5. Has the organization spent or does it intend to spend the greater of: (check one)
$5,000 or
amount required by the nancial lender for each dwelling unit in the project for the rehabilitation
of this property? ....................................................................
Yes
No
Attach a written statement prepared by a certied public account stating what the organization has spent or a copy of
the development budget to verify the intent to spend the requisite amount.
6. Does the organization maintain a reserve fund for replacements? .................................................
Yes
No
In what amount:
amount required by the nancial lender for each dwelling unit in the project;
$300 for each dwelling unit in the project; or
$ ________________ amount for each dwelling unit in the project adjusted for cost-of-living (for tax years 2005 or later)
Has the organization made withdrawals from the reserve?
.....................................................
Yes
No
If yes, was it: (check one)
authorized by the nancial lender; or
to pay the cost of capital improvements needed to maintain habitability under the Minimum Property Standards of the
U.S. Department of Housing and Urban Development. Capital improvement is a property improvement that has a depreciable
life of at least ve years, excluding typical make ready expenses such as plaster repair, interior paint or oor coverings.
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Application for Constructing or Rehabilitating Low-Income Housing Property (Bexar Appraisal District)

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Completed 10 February 2021

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