CHAPTER 4. TAXES AND FEES
INSURANCE CODE - NOT CODIFIED
TITLE 1. THE INSURANCE CODE OF 1951
CHAPTER 4. TAXES AND FEES
SUBCHAPTER A. IMPOSITION AND COLLECTION OF TAXES AND FEES
Art. 4.01. TAX OTHER THAN PREMIUM TAX. All insurance companies
incorporated under the laws of this state shall hereafter be
required to render for county and municipal taxation all of their
real estate and all furniture, fixtures, automobiles, equipment,
and data processing systems, as other such real estate and
tangible personal property is rendered in the city and county
where such property is located.
All other personal property owned by such insurance companies,
except fire insurance companies and casualty insurance companies,
shall be valued as other such property is valued for assessment
by the taxing authority in the following manner:
From the total valuation of the entire assets of each insurance
company shall be deducted:
(a) All the debts of every kind and character owed by such
insurance company;
(b) All intangible personal property owned by such insurance
company;
(c) All reserves, being the amount of the debts of such insurance
company by reason of its outstanding policies in gross.
From the remainder shall be deducted the assessed value of all
real estate and the assessed value of all furniture, fixtures,
automobiles, equipment, and data-processing systems, rendered for
taxation, and the remainder, if any there be, shall be taxable as
personal property by the city and county where the principal
business office of any such company is fixed by its charter.
All other personal property of fire insurance companies and
casualty insurance companies incorporated under the laws of this
state shall be valued as other such property is valued for
assessment by the taxing authority in the following manner:
From the total valuation of the entire assets of each insurance
company shall be deducted:
(a) All the debts of every kind and character owed by such
insurance company;
(b) All intangible personal property owned by such insurance
company;
(c) All reserves, which reserves shall be computed in such manner
as may be prescribed by the rules and regulations of the State
Board of Insurance, for unearned premiums and for all bona fide
outstanding losses.
From the remainder shall be deducted the assessed value of all
real estate and the assessed value of all furniture, fixtures,
automobiles, equipment, and data-processing systems, rendered for
taxation, and the remainder, if any there be, shall be taxable as
personal property by the city and county where the principal
business office of any company is fixed by its charter.
Acts 1951, 52nd Leg., p. 868, ch. 491. Amended by Acts 1957, 55th
Leg., p. 812, ch. 344, Sec. 3; Acts 1969, 61st Leg., p. 2470, ch.
831, Sec. 1, eff. Jan. 1, 1970.
Amended by Acts 2001, 77th Leg., ch. 763, Sec. 1, eff. Sept. 1,
2001.