Here’s one for your next cocktail party:
“Did you hear about the latest Texas Supreme Court News?”
“No? Well, they denied Petitions for Review in CAMERON VILLAGE and PRIMROSE.”
That really should get your party started.
Here’s a summary from a professional but the nub seems to be the action confirms that the CHDO tax exemption only applies to properties actually owned by Community Development Housing Organizations, not to properties owned by partnerships or special purpose vehicles set up by private investors to take advantage of that exemption.
This issue has been working its way up the courts for a while now. The Cameron Village case relied on a 2001 change of the law as a basis for its claim to the exemption–it only took 9 years to settle the argument for good.
