Sec. 23.9803. APPRAISAL OF QUALIFIED RESTRICTED-USE TIMBER LAND. (a) Except as provided by Subsection (b), the appraised value of qualified restricted-use timber land is one-half of the appraised value of the land as determined under Section 23.73 (a). (b) The appraised value determined under Subsection (a) may not exceed the lesser of: (1) the market value of the land as determined by other appraisal methods; or (2) the appraised value of the land for the year preceding the first year of appraisal under this subchapter. (c) The chief appraiser shall determine the market value of qualified restricted-use timber land and shall record both the market value and the appraised value in the appraisal records.
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