Recent state laws in Texas have stirred up the land development industry. In Central Texas, we have seen a significant impact on commercial and residential real estate development, with new zoning laws and regulations coming into effect. We aim to bring you up to speed with these changes and how they will impact landowners and developers in the region.
In 2019, the Texas legislature passed three significant pieces of legislation that will have a significant impact on land development. The first bill, House Bill 2847, increases the amount of information that must be included in all zoning and development applications. This means that developers must now provide detailed information on the traffic impact, potential environmental disruption, and public safety concerns that could arise from the development. The aim of the bill is to increase transparency and ensure that the public has a say in the development process, but it also means more work for developers.
The second bill, House Bill 2439, clarifies the rights of landowners concerning the use of their mineral rights. This bill requires that developers compensate landowners adequately for any damages caused by their use of mineral resources. It also increases the penalties for failure to comply with these compensation requirements. For landowners, this bill means better protection from exploitation and fair compensation for any damages that might occur.
The third bill, Senate Bill 2, aims to reform property tax laws in Texas. The bill would limit the rate of growth of property taxes for all residents, including commercial property owners, to prevent overtaxation. This is good news for commercial property owners who have been struggling with high property tax rates for years. The bill also provides more transparency and clarity in the property tax assessment process, enabling landowners to verify that they’re being taxed appropriately.
The new laws have created challenges for land developers in Central Texas. In particular, developers must now abide by tighter zoning regulations and provide more detailed information in their applications, which can cause delays. Furthermore, although the new legislation grants more rights and protections to landowners, it also imposes greater responsibilities on developers, who must now pay closer attention to potential environmental and safety issues.
Conclusion:
Land development is never easy; the new Texas laws have only added another layer of complexity to the process. However, by understanding these laws’ implications and adapting your plans to comply with them, landowners, and developers can continue to build a sustainable future for Central Texas. Keep in mind that lawmakers may continue to introduce new regulations, and staying informed is crucial to staying ahead of the curve as you navigate the land development process. Contact a qualified real estate attorney to help you navigate these changes and ensure that your development project is in legal compliance.
