During the 89 th Legislative Session, effective May 28, 2025, Chapter 394 of the Texas Local Government Code (the “HFC Statute”) was amended through
passage of Texas House Bill 21(“HB21”). To qualify for an exception from ad valorem taxes, certain multifamily residential developments owned by housing finance corporations are required to obtain an underwriting assessment of the proposed development to demonstrate public benefit.
The assessment must make a good faith determination that the total amount of annual rent reduction applicable to the development, as defined by Section 394.9026(a), will not be less than 50 percent of the amount of estimated ad valorem taxes that would be imposed on the property in the same year if the applicable property did not receive an exemption.
Henceforth, Travis County Housing Finance Corporation will post below all underwriting assessments for proposed developments subject to the requirements of Section 394.905(b).
- 7333 Bluff Springs